Wedmont Private Capital Sells 716 Shares of Bristol-Myers Squibb (NYSE:BMY)

Wedmont Private Capital decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,953 shares of the biopharmaceutical company’s stock after selling 716 shares during the period. Wedmont Private Capital’s holdings in Bristol-Myers Squibb were worth $462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Westside Investment Management Inc. grew its position in shares of Bristol-Myers Squibb by 2.9% during the 4th quarter. Westside Investment Management Inc. now owns 7,156 shares of the biopharmaceutical company’s stock valued at $367,000 after acquiring an additional 204 shares during the period. Fulton Breakefield Broenniman LLC boosted its holdings in Bristol-Myers Squibb by 4.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 209 shares during the period. Chapin Davis Inc. boosted its holdings in Bristol-Myers Squibb by 1.2% in the 4th quarter. Chapin Davis Inc. now owns 18,385 shares of the biopharmaceutical company’s stock worth $943,000 after buying an additional 214 shares during the period. Tilson Financial Group Inc. boosted its holdings in Bristol-Myers Squibb by 3.7% in the 4th quarter. Tilson Financial Group Inc. now owns 6,258 shares of the biopharmaceutical company’s stock worth $321,000 after buying an additional 221 shares during the period. Finally, Highland Capital Management LLC boosted its holdings in Bristol-Myers Squibb by 0.3% in the 4th quarter. Highland Capital Management LLC now owns 72,431 shares of the biopharmaceutical company’s stock worth $3,716,000 after buying an additional 225 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BMY shares. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, June 17th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Barclays dropped their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Wells Fargo & Company increased their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Up 2.2 %

Shares of NYSE BMY opened at $41.93 on Friday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The company has a market cap of $85.00 billion, a P/E ratio of -13.53, a PEG ratio of 13.82 and a beta of 0.43. Bristol-Myers Squibb has a 1 year low of $39.63 and a 1 year high of $65.85. The firm has a 50-day simple moving average of $43.60 and a two-hundred day simple moving average of $48.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -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.