ProVise Management Group LLC Has $350,000 Stock Position in Bristol-Myers Squibb (NYSE:BMY)

ProVise Management Group LLC lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 38.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,419 shares of the biopharmaceutical company’s stock after selling 5,181 shares during the quarter. ProVise Management Group LLC’s holdings in Bristol-Myers Squibb were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. LGT Financial Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 42.7% in the second 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 during the period. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the second quarter worth $39,000. Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in Bristol-Myers Squibb in the 2nd quarter worth $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.7 %

BMY opened at $49.38 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock’s fifty day simple moving average is $47.68 and its 200 day simple moving average is $46.49. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $59.46. The stock has a market cap of $100.10 billion, a PE ratio of -15.93, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter last year, the company posted $1.75 EPS. Bristol-Myers Squibb’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 declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.86%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note 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. Jefferies Financial Group boosted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Barclays raised their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.00.

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.