Forte Capital LLC ADV Sells 978 Shares of Bristol-Myers Squibb (NYSE:BMY)

Forte Capital LLC ADV cut its position in Bristol-Myers Squibb (NYSE:BMY) by 19.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,023 shares of the biopharmaceutical company’s stock after selling 978 shares during the quarter. Forte Capital LLC ADV’s holdings in Bristol-Myers Squibb were worth $206,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $25,000. Milestone Investment Advisors LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $27,000. Blue Bell Private Wealth Management LLC boosted its stake in Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. VisionPoint Advisory Group LLC lifted its position in shares of Bristol-Myers Squibb by 300.5% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 553 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $40,000. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent analyst reports. BMO Capital Markets cut their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $54.00 in a research report 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 cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Price Performance

BMY traded up $0.29 on Friday, reaching $43.99. The stock had a trading volume of 12,104,489 shares, compared to its average volume of 14,314,010. The firm has a 50-day moving average of $50.37 and a 200-day moving average of $50.74. Bristol-Myers Squibb has a fifty-two week low of $43.33 and a fifty-two week high of $69.10. The company has a market capitalization of $89.17 billion, a price-to-earnings ratio of -14.19, a price-to-earnings-growth ratio of 14.82 and a beta of 0.45. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The business’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were given a $0.60 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.46%. Bristol-Myers Squibb’s dividend payout ratio (DPR) 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.