Bristol-Myers Squibb (NYSE:BMY) Position Reduced by First National Bank & Trust Co. of Newtown

First National Bank & Trust Co. of Newtown trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,708 shares of the biopharmaceutical company’s stock after selling 2,400 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in Bristol-Myers Squibb were worth $1,150,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Traynor Capital Management Inc. boosted its position in Bristol-Myers Squibb by 2.8% during the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 207 shares during the period. Fulton Breakefield Broenniman LLC boosted its holdings in shares of Bristol-Myers Squibb by 4.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 209 shares during the period. Accurate Wealth Management LLC grew its stake in Bristol-Myers Squibb by 4.0% in the 1st quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock valued at $304,000 after buying an additional 216 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Bristol-Myers Squibb by 12.8% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 216 shares during the period. Finally, Bfsg LLC lifted its position in Bristol-Myers Squibb by 24.4% during the first quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 220 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays upped their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday. TD Cowen lifted their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. BMO Capital Markets dropped their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $54.93.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded down $0.82 during midday trading on Thursday, reaching $47.62. The company’s stock had a trading volume of 9,946,808 shares, compared to its average volume of 15,730,980. The stock has a market cap of $96.53 billion, a PE ratio of -15.32, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.41. The business has a 50-day moving average price of $44.12 and a 200-day moving average price of $46.59.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.75 earnings per share. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

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

Bristol-Myers Squibb Company 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.