Parallel Advisors LLC Sells 273 Shares of Bristol-Myers Squibb (NYSE:BMY)

Parallel Advisors LLC decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,283 shares of the biopharmaceutical company’s stock after selling 273 shares during the quarter. Parallel Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,341,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at about $27,000. LGT Financial Advisors LLC grew its holdings in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares in the last quarter. Fairman Group LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $42,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $47,000. Finally, Accent Capital Management LLC bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $46,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $49.13 on Monday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $60.55. The company has a market capitalization of $99.59 billion, a PE ratio of -15.85, a P/E/G ratio of 12.59 and a beta of 0.46. The company has a 50 day moving average price of $46.79 and a 200-day moving average price of $46.47. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion for 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 business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.75 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.88%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. TD Cowen increased their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Jefferies Financial Group boosted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Finally, Barclays boosted their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.67.

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.