Carret Asset Management LLC Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Carret Asset Management LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,867 shares of the biopharmaceutical company’s stock after selling 1,880 shares during the period. Carret Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $2,787,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at $27,000. LGT Financial Advisors LLC raised its stake in 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 purchasing an additional 227 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter valued at about $34,000. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth about $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Bristol-Myers Squibb during the second quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. TD Cowen upped their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group upped their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.31.

Bristol-Myers Squibb Stock Down 1.9 %

Shares of Bristol-Myers Squibb stock opened at $51.92 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $55.29. The stock has a market cap of $105.25 billion, a price-to-earnings ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a fifty day moving average price of $50.75 and a 200 day moving average price of $46.41.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.75 earnings per share. Equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio 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.