Beacon Harbor Wealth Advisors Inc. Has $1.70 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Beacon Harbor Wealth Advisors Inc. lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 59.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,054 shares of the biopharmaceutical company’s stock after selling 48,733 shares during the period. Beacon Harbor Wealth Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $1,696,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vicus Capital grew its stake in Bristol-Myers Squibb by 3.9% in the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 179 shares during the period. Lindbrook Capital LLC grew its stake in Bristol-Myers Squibb by 2.3% in the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after acquiring an additional 182 shares during the period. Addison Advisors LLC grew its stake in Bristol-Myers Squibb by 6.6% in the third quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 192 shares during the period. Symphony Financial Ltd. Co. grew its stake in Bristol-Myers Squibb by 4.1% in the third quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock valued at $288,000 after acquiring an additional 194 shares during the period. Finally, Blue Bell Private Wealth Management LLC grew its stake in Bristol-Myers Squibb by 61.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of research reports. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. BMO Capital Markets dropped their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Barclays dropped their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded down $0.40 during mid-day trading on Thursday, reaching $43.81. 9,156,427 shares of the company’s stock were exchanged, compared to its average volume of 15,876,731. The business’s fifty day simple moving average is $50.67 and its 200 day simple moving average is $50.89. The firm has a market capitalization of $88.81 billion, a PE ratio of -14.15, a P/E/G ratio of 14.70 and a beta of 0.45. Bristol-Myers Squibb has a one year low of $43.33 and a one year high of $69.10. 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 (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $2.05 earnings per share. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.6 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.48%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

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.