Bristol-Myers Squibb (NYSE:BMY) Stock Position Reduced by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 46.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,307 shares of the biopharmaceutical company’s stock after selling 28,412 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Bristol-Myers Squibb were worth $1,709,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Certuity LLC raised its position in Bristol-Myers Squibb by 55.9% in the fourth quarter. Certuity LLC now owns 40,729 shares of the biopharmaceutical company’s stock worth $2,090,000 after purchasing an additional 14,606 shares in the last quarter. Norden Group LLC raised its stake in Bristol-Myers Squibb by 7.8% in the 4th quarter. Norden Group LLC now owns 10,633 shares of the biopharmaceutical company’s stock valued at $546,000 after acquiring an additional 773 shares during the period. Penobscot Investment Management Company Inc. grew its stake in shares of Bristol-Myers Squibb by 3.4% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 18,437 shares of the biopharmaceutical company’s stock valued at $946,000 after acquiring an additional 600 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Bristol-Myers Squibb by 9.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 152,909 shares of the biopharmaceutical company’s stock worth $7,846,000 after acquiring an additional 13,098 shares during the period. Finally, Ledyard National Bank raised its holdings in Bristol-Myers Squibb by 1.3% in the 4th quarter. Ledyard National Bank now owns 31,183 shares of the biopharmaceutical company’s stock valued at $1,600,000 after buying an additional 393 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of several research reports. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. William Blair reiterated 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 note on Monday, April 15th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Wells Fargo & Company increased their price target 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 investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Trading Down 1.6 %

Shares of BMY stock traded down $0.70 on Tuesday, reaching $43.94. 17,467,906 shares of the stock were exchanged, compared to its average volume of 15,991,819. The firm has a 50 day moving average of $50.93 and a two-hundred day moving average of $51.02. 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 1-year low of $43.93 and a 1-year high of $69.10. The stock has a market cap of $89.07 billion, a P/E ratio of -14.38, a price-to-earnings-growth ratio of 15.47 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter last year, the company posted $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.46%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.