Apollon Wealth Management LLC Sells 9,872 Shares of Bristol-Myers Squibb (NYSE:BMY)

Apollon Wealth Management LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 70,764 shares of the biopharmaceutical company’s stock after selling 9,872 shares during the quarter. Apollon Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $2,939,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BMY. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $27,000. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb in the first quarter valued at $27,000. Accordant Advisory Group Inc bought a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $31,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $34,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $40,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. TD Cowen increased their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Finally, Barclays cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price for the company. in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $54.86.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $49.30 on Tuesday. The business has a fifty day moving average price of $43.88 and a two-hundred day moving average price of $46.57. The stock has a market capitalization of $99.93 billion, a PE ratio of -15.90, a P/E/G ratio of 12.51 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The business 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%. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 earnings per share. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.87%. Bristol-Myers Squibb’s dividend payout ratio is -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.