Inlet Private Wealth LLC Has $2.73 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Inlet Private Wealth LLC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,788 shares of the biopharmaceutical company’s stock after selling 2,103 shares during the quarter. Inlet Private Wealth LLC’s holdings in Bristol-Myers Squibb were worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BMY. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. LGT Financial Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 42.7% in the second 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 last quarter. ORG Wealth Partners LLC bought a new stake in Bristol-Myers Squibb during the 3rd quarter worth about $34,000. MFA Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb in the 2nd quarter valued at about $39,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb in the second quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of BMY traded down $0.17 during mid-day trading on Thursday, hitting $53.20. 2,279,581 shares of the company’s stock were exchanged, compared to its average volume of 14,761,369. The company has a 50-day simple moving average of $50.10 and a 200 day simple moving average of $46.37. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The company has a market cap of $107.84 billion, a PE ratio of -17.22, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $57.59.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BMY. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research note on Thursday. They issued a “market perform” rating and a $56.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their price target 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. Finally, Jefferies Financial Group lifted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.20.

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.