Van Cleef Asset Management Inc Sells 799 Shares of Bristol-Myers Squibb (NYSE:BMY)

Van Cleef Asset Management Inc lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,429 shares of the biopharmaceutical company’s stock after selling 799 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Bristol-Myers Squibb were worth $682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb in the first quarter valued at approximately $27,000. LGT Financial Advisors LLC increased its holdings in Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $39,000. Fairman Group LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays upped their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on 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. 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, Jefferies Financial Group raised their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $54.67.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $49.28 on Wednesday. The company has a market capitalization of $99.91 billion, a PE ratio of -15.90, a P/E/G ratio of 12.62 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.42. The firm has a fifty day simple moving average of $46.27 and a 200 day simple moving average of $46.51.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.87%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.