Novare Capital Management LLC Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Novare Capital Management LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 17.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,825 shares of the biopharmaceutical company’s stock after selling 1,005 shares during the period. Novare Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $200,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BMY. Fisher Asset Management LLC boosted its holdings in Bristol-Myers Squibb by 130.7% in the fourth quarter. Fisher Asset Management LLC now owns 224,537 shares of the biopharmaceutical company’s stock valued at $11,521,000 after acquiring an additional 127,228 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bristol-Myers Squibb by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,361,717 shares of the biopharmaceutical company’s stock valued at $582,970,000 after buying an additional 134,815 shares in the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $34,000. Gryphon Financial Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 23.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 995 shares in the last quarter. Finally, Everpar Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $616,000. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, 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 research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $50.54 on Wednesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $62.00. The firm has a market capitalization of $102.45 billion, a P/E ratio of -16.30, a PEG ratio of 12.92 and a beta of 0.44. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a 50-day moving average price of $45.49 and a 200-day moving average price of $46.56.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating 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 firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate 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 was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

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.