Baker Ellis Asset Management LLC Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Baker Ellis Asset Management LLC lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,130 shares of the biopharmaceutical company’s stock after selling 400 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its stake in Bristol-Myers Squibb by 532.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after buying an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. boosted its stake in Bristol-Myers Squibb by 1.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after buying an additional 296 shares in the last quarter. Great Diamond Partners LLC boosted its stake in Bristol-Myers Squibb by 9.2% in the fourth quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 367 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in Bristol-Myers Squibb in the first quarter worth approximately $5,161,000. Finally, Principal Securities Inc. purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth approximately $1,139,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $41.53 on Friday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The business has a fifty day simple moving average of $42.97 and a two-hundred day simple moving average of $48.14. Bristol-Myers Squibb has a 12 month low of $39.63 and a 12 month high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 earnings per share. On average, research analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.78%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Barclays lowered their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb 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.