Wealth Enhancement Advisory Services LLC Sells 51,514 Shares of Bristol-Myers Squibb (NYSE:BMY)

Wealth Enhancement Advisory Services LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 410,000 shares of the biopharmaceutical company’s stock after selling 51,514 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Bristol-Myers Squibb were worth $17,027,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Traynor Capital Management Inc. grew its holdings in Bristol-Myers Squibb by 2.8% during the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after acquiring an additional 207 shares in the last quarter. Fulton Breakefield Broenniman LLC grew its stake in Bristol-Myers Squibb by 4.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock valued at $243,000 after acquiring an additional 209 shares during the last quarter. Accurate Wealth Management LLC grew its stake in Bristol-Myers Squibb by 4.0% in the 1st quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock valued at $304,000 after acquiring an additional 216 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of Bristol-Myers Squibb by 12.8% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 216 shares during the last quarter. Finally, Bfsg LLC raised its holdings in Bristol-Myers Squibb by 24.4% in the first quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 220 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded down $0.82 during trading hours on Wednesday, hitting $48.24. 4,111,073 shares of the company’s stock were exchanged, compared to its average volume of 15,889,042. The stock’s 50-day moving average is $43.28 and its 200-day moving average is $46.58. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. The stock has a market cap of $97.79 billion, a price-to-earnings ratio of -15.65, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share 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 firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. BMO Capital Markets cut their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. TD Cowen lifted their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company boosted their price target on shares of 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $54.86.

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.