Mechanics Bank Trust Department Has $2.69 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Mechanics Bank Trust Department trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,844 shares of the biopharmaceutical company’s stock after selling 4,887 shares during the period. Mechanics Bank Trust Department’s holdings in Bristol-Myers Squibb were worth $2,693,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $27,000. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth $27,000. Accordant Advisory Group Inc acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth $31,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $40,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.3 %

Shares of BMY stock traded down $0.13 during trading hours on Friday, hitting $46.72. 14,083,504 shares of the company’s stock traded hands, compared to its average volume of 15,967,806. The company has a quick ratio of 0.99, a current ratio of 1.16 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 $63.41. The stock has a market cap of $94.71 billion, a PE ratio of -15.07, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44. The stock’s 50 day simple moving average is $43.02 and its 200 day simple moving average is $46.60.

Bristol-Myers Squibb (NYSE:BMY) last announced 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. The firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 EPS. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.14%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analysts Set New Price Targets

BMY has been the topic of a number of analyst reports. BMO Capital Markets decreased their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective for the company. in a report on Monday, July 29th. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $55.79.

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.