Valley National Advisers Inc. Sells 1,917 Shares of Bristol-Myers Squibb (NYSE:BMY)

Valley National Advisers Inc. lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 17.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,241 shares of the biopharmaceutical company’s stock after selling 1,917 shares during the period. Valley National Advisers Inc.’s holdings in Bristol-Myers Squibb were worth $501,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 1,004.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 94,351 shares of the biopharmaceutical company’s stock valued at $5,476,000 after buying an additional 85,812 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of Bristol-Myers Squibb by 20.2% in the third quarter. Alps Advisors Inc. now owns 106,263 shares of the biopharmaceutical company’s stock worth $6,168,000 after acquiring an additional 17,825 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Bristol-Myers Squibb during the 3rd quarter valued at approximately $9,297,000. KPP Advisory Services LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter worth $582,000. Finally, Seven Eight Capital LP lifted its stake in Bristol-Myers Squibb by 117.3% in the 3rd quarter. Seven Eight Capital LP now owns 54,207 shares of the biopharmaceutical company’s stock worth $3,146,000 after purchasing an additional 29,263 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 1.0 %

Shares of NYSE BMY opened at $40.06 on Thursday. The stock has a 50 day moving average price of $42.64 and a 200 day moving average price of $47.97. Bristol-Myers Squibb has a 52-week low of $39.63 and a 52-week high of $65.38. 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 issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.99%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analyst Ratings Changes

A number of brokerages recently commented on BMY. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays decreased their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb 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.