Lake Street Private Wealth LLC Has $494,000 Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Lake Street Private Wealth LLC lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 30.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,545 shares of the biopharmaceutical company’s stock after selling 4,113 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Bristol-Myers Squibb were worth $494,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC increased its stake 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 worth $32,000 after purchasing an additional 227 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $34,000. MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb in the second quarter valued at approximately $39,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $53.06 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company’s fifty day simple moving average is $50.63 and its 200 day simple moving average is $46.39. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.77. The company has a market cap of $107.56 billion, a price-to-earnings ratio of -17.12, a PEG ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period in the previous year, the business earned $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.52%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Ratings Changes

A number of brokerages recently commented on BMY. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Barclays lifted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Jefferies Financial Group lifted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $53.20.

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.