Northstar Investment Advisors LLC cut its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,210 shares of the biopharmaceutical company’s stock after selling 900 shares during the quarter. Northstar Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,194,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arlington Partners LLC increased its position in Bristol-Myers Squibb by 40.0% during the fourth quarter. Arlington Partners LLC now owns 1,400 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 400 shares during the last quarter. Cypress Capital Management LLC WY grew its position in shares of Bristol-Myers Squibb by 154.7% in the third quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 1,160 shares during the last quarter. CLS Investments LLC grew its position in shares of Bristol-Myers Squibb by 194.3% in the third quarter. CLS Investments LLC now owns 2,575 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 1,700 shares during the last quarter. Highwater Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $170,000. Finally, Selective Wealth Management acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at about $184,000. 72.68% of the stock is currently owned by institutional investors and hedge funds.
BMY has been the topic of several research analyst reports. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $62.00 to $57.00 in a research report on Monday, October 22nd. JPMorgan Chase & Co. increased their target price on shares of Bristol-Myers Squibb from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Credit Suisse Group reiterated a “hold” rating and issued a $59.00 target price on shares of Bristol-Myers Squibb in a research note on Thursday, December 13th. William Blair reiterated an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, October 22nd. Finally, Zacks Investment Research cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $61.56.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.18. The company had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. On average, analysts forecast that Bristol-Myers Squibb Co will post 3.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Friday, January 4th will be issued a dividend of $0.41 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, January 3rd. This represents a $1.64 annualized dividend and a dividend yield of 3.46%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 54.49%.
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Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic areas, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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