Schmidt P J Investment Management Inc. Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Schmidt P J Investment Management Inc. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 21.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,450 shares of the biopharmaceutical company’s stock after selling 2,051 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $385,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sunbelt Securities Inc. boosted its stake in Bristol-Myers Squibb by 19.1% during the 1st quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock worth $547,000 after purchasing an additional 1,614 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Bristol-Myers Squibb by 19.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 461,514 shares of the biopharmaceutical company’s stock worth $25,028,000 after acquiring an additional 74,486 shares during the last quarter. Hennessy Advisors Inc. increased its stake in shares of Bristol-Myers Squibb by 45.7% during the 1st quarter. Hennessy Advisors Inc. now owns 104,000 shares of the biopharmaceutical company’s stock valued at $5,640,000 after acquiring an additional 32,600 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Bristol-Myers Squibb by 45.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,103 shares of the biopharmaceutical company’s stock worth $439,000 after buying an additional 2,547 shares during the period. Finally, Register Financial Advisors LLC acquired a new position in Bristol-Myers Squibb during the first quarter valued at approximately $260,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 0.3 %

Bristol-Myers Squibb stock opened at $52.92 on Friday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.77. The firm has a market cap of $107.27 billion, a price-to-earnings ratio of -17.07, a P/E/G ratio of 13.75 and a beta of 0.46. The firm has a fifty day moving average price of $50.63 and a two-hundred day moving average price of $46.39. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating 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 company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the previous year, the business earned $1.75 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.54%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent research reports. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. BMO Capital Markets reissued a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $53.31.

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.