Partnership Wealth Management LLC Sells 10,509 Shares of Bristol-Myers Squibb (NYSE:BMY)

Partnership Wealth Management LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 28.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,209 shares of the biopharmaceutical company’s stock after selling 10,509 shares during the period. Bristol-Myers Squibb makes up 1.0% of Partnership Wealth Management LLC’s portfolio, making the stock its 20th biggest holding. Partnership Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,356,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the first quarter valued at approximately $27,000. LGT Financial Advisors LLC raised its position in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares in the last quarter. Fairman Group LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $42,000. Redmont Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb in the first quarter worth $47,000. Finally, Accent Capital Management LLC bought a new position in Bristol-Myers Squibb in the fourth quarter valued at $46,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $52.54 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The stock has a fifty day moving average of $49.50 and a 200 day moving average of $46.34. The firm has a market capitalization of $106.50 billion, a price-to-earnings ratio of -16.93, a PEG ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $57.65.

Bristol-Myers Squibb (NYSE:BMY) last posted 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 negative net margin of 14.06% and a positive return on equity of 12.51%. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the company posted $1.75 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Barclays lifted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $53.43.

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.