Institute for Wealth Management LLC. Lowers Stake in Bristol Myers Squibb Company (NYSE:BMY)

Institute for Wealth Management LLC. reduced its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 12.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,556 shares of the biopharmaceutical company’s stock after selling 3,334 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Bristol Myers Squibb were worth $1,376,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Bristol Myers Squibb by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock valued at $10,743,262,000 after buying an additional 1,373,209 shares in the last quarter. Capital International Investors lifted its stake in Bristol Myers Squibb by 7.5% in the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock valued at $2,593,940,000 after buying an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC lifted its stake in Bristol Myers Squibb by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after buying an additional 1,187,231 shares in the last quarter. Norges Bank purchased a new position in Bristol Myers Squibb in the 4th quarter valued at about $1,989,525,000. Finally, Ameriprise Financial Inc. lifted its stake in Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Bristol Myers Squibb Stock Down 0.9%

BMY stock opened at $46.82 on Thursday. The firm has a market cap of $95.29 billion, a PE ratio of 17.54, a PEG ratio of 1.39 and a beta of 0.38. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The firm’s 50 day moving average price is $48.35 and its 200-day moving average price is $54.52. Bristol Myers Squibb Company has a one year low of $39.35 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the previous year, the company earned ($4.40) EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.30%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group decreased their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Wall Street Zen lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Finally, Argus raised shares of Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.00.

About Bristol Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.