Lake Street Private Wealth LLC Sells 4,113 Shares of Bristol-Myers Squibb (NYSE:BMY)

Lake Street Private Wealth LLC decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 30.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,545 shares of the biopharmaceutical company’s stock after selling 4,113 shares during the period. Lake Street Private Wealth LLC’s holdings in Bristol-Myers Squibb were worth $494,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BMY. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at $34,000. LGT Financial Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth about $47,000. Finally, MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $39,000. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Trading Up 0.6 %

Shares of NYSE BMY opened at $53.06 on Thursday. The company’s 50 day simple moving average is $50.63 and its 200 day simple moving average is $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 has a fifty-two week low of $39.35 and a fifty-two week high of $56.77. The firm has a market capitalization of $107.56 billion, a P/E ratio of -17.12, a P/E/G ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.75 EPS. On average, analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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 $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.52%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.