B. Riley Wealth Advisors Inc. Sells 22,768 Shares of Bristol-Myers Squibb (NYSE:BMY)

B. Riley Wealth Advisors Inc. lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,095 shares of the biopharmaceutical company’s stock after selling 22,768 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $6,773,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Capital International Investors lifted its holdings in shares of Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Bristol-Myers Squibb by 1.0% during the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after purchasing an additional 225,197 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Bristol-Myers Squibb by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after purchasing an additional 735,613 shares in the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after purchasing an additional 556,295 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 15.0% during the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after purchasing an additional 1,840,424 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BMY shares. Deutsche Bank Aktiengesellschaft cut their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Barclays lifted their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, TD Cowen lifted their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Stock Up 1.6 %

NYSE:BMY opened at $51.74 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $58.06. The stock’s 50 day moving average price is $48.71 and its two-hundred day moving average price is $46.28. The firm has a market capitalization of $104.88 billion, a price-to-earnings ratio of -16.69, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the previous year, the company posted $1.75 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.64%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.