Commonwealth Financial Services LLC Has $318,000 Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Commonwealth Financial Services LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 22.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,005 shares of the biopharmaceutical company’s stock after selling 1,733 shares during the period. Commonwealth Financial Services LLC’s holdings in Bristol-Myers Squibb were worth $318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at $34,000. MFA Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb during the 2nd quarter worth $39,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in Bristol-Myers Squibb in the 2nd quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.2 %

Shares of BMY traded up $0.11 during trading hours on Thursday, reaching $53.17. The stock had a trading volume of 602,643 shares, compared to its average volume of 14,556,058. The company has a market capitalization of $107.78 billion, a price-to-earnings ratio of -17.12, a P/E/G ratio of 13.75 and a beta of 0.46. The firm has a 50-day simple moving average of $50.63 and a 200 day simple moving average of $46.39. 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 $56.77.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.75 earnings per share. Equities research analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.51%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BMY. UBS Group boosted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective for the company. Finally, Barclays upped their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.20.

About Bristol-Myers Squibb

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.