Tobam Sells 9,203 Shares of Bristol-Myers Squibb (NYSE:BMY)

Tobam trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,106 shares of the biopharmaceutical company’s stock after selling 9,203 shares during the quarter. Bristol-Myers Squibb makes up 2.0% of Tobam’s holdings, making the stock its 14th biggest holding. Tobam’s holdings in Bristol-Myers Squibb were worth $10,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC increased its holdings in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb in the second quarter worth approximately $39,000. Fairman Group LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter worth approximately $42,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in Bristol-Myers Squibb in the second quarter worth approximately $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Down 0.6 %

Shares of NYSE:BMY traded down $0.31 during mid-day trading on Thursday, hitting $52.49. 2,655,915 shares of the company traded hands, compared to its average volume of 14,946,704. The stock has a market cap of $106.40 billion, a P/E ratio of -17.03, a P/E/G ratio of 12.96 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.65. The stock has a 50-day moving average price of $49.60 and a two-hundred day moving average price of $46.39.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm 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 $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.57%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BMY. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. TD Cowen lifted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, UBS Group boosted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.00.

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.