Bristol-Myers Squibb (NYSE:BMY) Stock Holdings Lessened by Johnson & White Wealth Management LLC

Johnson & White Wealth Management LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,221 shares of the biopharmaceutical company’s stock after selling 1,598 shares during the period. Johnson & White Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $473,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Blackston Financial Advisory Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $219,000. Atticus Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 41.6% during the 4th quarter. Atticus Wealth Management LLC now owns 4,539 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 1,334 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Bristol-Myers Squibb by 3.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 98,394 shares of the biopharmaceutical company’s stock valued at $5,049,000 after buying an additional 3,313 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Bristol-Myers Squibb by 27.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 2,542,827 shares of the biopharmaceutical company’s stock worth $130,472,000 after buying an additional 542,210 shares during the last quarter. Finally, Bill Few Associates Inc. raised its position in Bristol-Myers Squibb by 8.6% during the fourth quarter. Bill Few Associates Inc. now owns 9,154 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 725 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 6th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Trading Up 0.6 %

Shares of BMY stock opened at $52.55 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $71.07. The firm’s fifty day simple moving average is $50.68 and its 200 day simple moving average is $52.49. The firm has a market capitalization of $106.51 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.58 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the previous year, the firm posted $1.82 EPS. The business’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.57%. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Bristol-Myers Squibb declared that its Board of Directors has approved a share repurchase plan on Thursday, December 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Bristol-Myers Squibb Company Profile

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.