United Community Bank Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

United Community Bank reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 93.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 693 shares of the biopharmaceutical company’s stock after selling 10,687 shares during the period. United Community Bank’s holdings in Bristol-Myers Squibb were worth $38,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. bought a new stake in Bristol-Myers Squibb during the third quarter worth about $9,297,000. Creative Planning boosted its stake in shares of Bristol-Myers Squibb by 5.3% in the 3rd quarter. Creative Planning now owns 363,032 shares of the biopharmaceutical company’s stock valued at $21,070,000 after purchasing an additional 18,243 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Bristol-Myers Squibb by 20.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 645,662 shares of the biopharmaceutical company’s stock worth $37,474,000 after purchasing an additional 109,676 shares during the period. Diversified Trust Co boosted its holdings in Bristol-Myers Squibb by 1.2% during the 3rd quarter. Diversified Trust Co now owns 47,382 shares of the biopharmaceutical company’s stock valued at $2,750,000 after acquiring an additional 580 shares during the period. Finally, Comerica Bank increased its stake in shares of Bristol-Myers Squibb by 96.1% during the third quarter. Comerica Bank now owns 748,822 shares of the biopharmaceutical company’s stock valued at $43,462,000 after buying an additional 367,044 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.2 %

Shares of Bristol-Myers Squibb stock traded up $0.10 on Wednesday, reaching $40.96. The company had a trading volume of 1,979,766 shares, compared to its average volume of 15,608,447. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $65.38. The firm has a market cap of $83.03 billion, a price-to-earnings ratio of -13.21, a P/E/G ratio of 13.68 and a beta of 0.44. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The firm’s 50-day moving average price is $42.11 and its two-hundred day moving average price is $47.56.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The company 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%. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 EPS. As a group, research analysts predict that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 5.86%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Ratings Changes

Several analysts have weighed in on BMY shares. Barclays cut their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. BMO Capital Markets reduced their target price on shares of 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. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company boosted their price target on 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. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.