Bristol-Myers Squibb (NYSE:BMY) Shares Sold by City Holding Co.

City Holding Co. lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,492 shares of the biopharmaceutical company’s stock after selling 987 shares during the period. City Holding Co.’s holdings in Bristol-Myers Squibb were worth $698,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. O Keefe Stevens Advisory Inc. acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at $236,000. FCF Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 8.4% in the third quarter. FCF Advisors LLC now owns 122,341 shares of the biopharmaceutical company’s stock valued at $6,330,000 after acquiring an additional 9,496 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth about $371,000. Park Place Capital Corp raised its holdings in Bristol-Myers Squibb by 50.9% during the third quarter. Park Place Capital Corp now owns 13,362 shares of the biopharmaceutical company’s stock worth $691,000 after purchasing an additional 4,509 shares in the last quarter. Finally, Chesley Taft & Associates LLC lifted its position in Bristol-Myers Squibb by 5.0% in the third quarter. Chesley Taft & Associates LLC now owns 5,250 shares of the biopharmaceutical company’s stock valued at $272,000 after purchasing an additional 252 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BMY. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday. Finally, UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $53.00.

Bristol-Myers Squibb Stock Up 0.6 %

Shares of NYSE:BMY opened at $52.80 on Thursday. 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 company has a market capitalization of $107.03 billion, a P/E ratio of -17.03, a P/E/G 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. The stock’s fifty day simple moving average is $49.50 and its 200-day simple moving average is $46.34.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -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.