1620 Investment Advisors Inc. Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

1620 Investment Advisors Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 37.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,781 shares of the biopharmaceutical company’s stock after selling 6,393 shares during the period. 1620 Investment Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $448,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb during the first quarter valued at approximately $27,000. Northwest Financial Advisors purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $27,000. Accordant Advisory Group Inc bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth about $31,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Bristol-Myers Squibb in the fourth 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 approximately $40,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 1.7 %

Shares of NYSE:BMY traded down $0.82 during mid-day trading on Thursday, reaching $47.62. 9,946,808 shares of the stock were exchanged, compared to its average volume of 15,730,980. The company has a market cap of $96.53 billion, a P/E ratio of -15.36, a P/E/G ratio of 12.51 and a beta of 0.44. The stock’s 50 day simple moving average is $44.24 and its 200-day simple moving average is $46.59. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a one year low of $39.35 and a one year 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, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter last year, the company posted $1.75 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Ratings Changes

A number of research analysts have recently commented on BMY shares. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. BMO Capital Markets dropped 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 note on Friday, April 26th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $54.93.

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.