Trust Co. of Virginia VA Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Trust Co. of Virginia VA cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,567 shares of the biopharmaceutical company’s stock after selling 2,477 shares during the period. Trust Co. of Virginia VA’s holdings in Bristol-Myers Squibb were worth $1,441,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BMY. Northwest Financial Advisors purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $34,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $40,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $40,000. Finally, Fairman Group LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded up $0.02 during trading hours on Friday, reaching $41.53. 20,542,742 shares of the company’s stock were exchanged, compared to its average volume of 15,934,426. The stock has a market capitalization of $84.19 billion, a P/E ratio of -13.40, a P/E/G ratio of 14.20 and a beta of 0.43. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. Bristol-Myers Squibb has a fifty-two week low of $39.63 and a fifty-two week high of $65.38. The business has a fifty day moving average price of $42.97 and a 200-day moving average price of $48.16.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. Analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.78%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BMY. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Barclays reduced their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. BMO Capital Markets cut their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Finally, Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock 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 assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.00.

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.