Financial Advocates Investment Management Sells 521 Shares of Bristol-Myers Squibb (NYSE:BMY)

Financial Advocates Investment Management reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,290 shares of the biopharmaceutical company’s stock after selling 521 shares during the period. Financial Advocates Investment Management’s holdings in Bristol-Myers Squibb were worth $978,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BMY. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at $25,000. Hollencrest Capital Management grew its position in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Bristol-Myers Squibb in the third quarter worth about $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter worth about $29,000. Finally, Valued Wealth Advisors LLC boosted its stake in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.8 %

BMY opened at $56.96 on Friday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The company has a market capitalization of $115.51 billion, a P/E ratio of -15.86, a PEG ratio of 2.10 and a beta of 0.45. The stock’s fifty day moving average is $57.61 and its two-hundred day moving average is $53.65. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.35%. The ex-dividend date was Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMY. Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday. Morgan Stanley lifted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. BMO Capital Markets upped their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald lifted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $57.86.

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.