Bristol-Myers Squibb (NYSE:BMY) Holdings Lowered by Linscomb Wealth Inc.

Linscomb Wealth Inc. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,629 shares of the biopharmaceutical company’s stock after selling 422 shares during the period. Linscomb Wealth Inc.’s holdings in Bristol-Myers Squibb were worth $305,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BMY. Stonebridge Capital Advisors LLC lifted its stake in Bristol-Myers Squibb by 5.2% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 196,718 shares of the biopharmaceutical company’s stock worth $10,668,000 after acquiring an additional 9,700 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Bristol-Myers Squibb by 7.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,831,562 shares of the biopharmaceutical company’s stock worth $262,016,000 after acquiring an additional 325,585 shares in the last quarter. Capital International Sarl lifted its stake in Bristol-Myers Squibb by 12.9% in the 1st quarter. Capital International Sarl now owns 392,817 shares of the biopharmaceutical company’s stock worth $21,302,000 after acquiring an additional 44,767 shares in the last quarter. Toronto Dominion Bank lifted its stake in Bristol-Myers Squibb by 1.4% in the 1st quarter. Toronto Dominion Bank now owns 1,256,439 shares of the biopharmaceutical company’s stock worth $68,137,000 after acquiring an additional 16,941 shares in the last quarter. Finally, Capital International Inc. CA lifted its stake in Bristol-Myers Squibb by 12.9% in the 1st quarter. Capital International Inc. CA now owns 916,124 shares of the biopharmaceutical company’s stock worth $49,681,000 after acquiring an additional 104,666 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of several research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. Barclays dropped their target price on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.73.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded up $5.18 during mid-day trading on Friday, reaching $50.45. The stock had a trading volume of 36,636,434 shares, compared to its average volume of 15,289,099. The firm’s 50 day simple moving average is $41.76 and its 200 day simple moving average is $46.79. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The firm has a market cap of $102.27 billion, a PE ratio of -16.27, a P/E/G ratio of 17.07 and a beta of 0.44.

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 positive return on equity of 8.83% and a negative net margin of 13.50%. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter last year, the company earned $1.75 EPS. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that Bristol-Myers Squibb will post 0.53 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 4.76%. Bristol-Myers Squibb’s dividend 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.