Pathway Financial Advisers LLC Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Pathway Financial Advisers LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 97.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,034 shares of the biopharmaceutical company’s stock after selling 422,078 shares during the period. Pathway Financial Advisers LLC’s holdings in Bristol-Myers Squibb were worth $511,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BMY. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the third quarter worth about $25,000. Hollencrest Capital Management increased its stake in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new position in Bristol-Myers Squibb in the 3rd quarter worth about $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC increased its position in shares of Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY stock opened at $56.17 on Thursday. The business has a fifty day moving average of $57.38 and a two-hundred day moving average of $54.02. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The stock has a market cap of $113.92 billion, a price-to-earnings ratio of -12.71, a price-to-earnings-growth ratio of 2.13 and a beta of 0.45. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.81%. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.75 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.42%. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BMY shares. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Morgan Stanley lifted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. BMO Capital Markets raised their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $57.86.

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.