Cito Capital Group LLC Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cito Capital Group LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,000 shares of the biopharmaceutical company’s stock after selling 3,000 shares during the period. Bristol-Myers Squibb makes up approximately 0.8% of Cito Capital Group LLC’s holdings, making the stock its 29th largest holding. Cito Capital Group LLC’s holdings in Bristol-Myers Squibb were worth $1,788,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WealthPLAN Partners LLC raised its position in Bristol-Myers Squibb by 1.5% during the second quarter. WealthPLAN Partners LLC now owns 11,073 shares of the biopharmaceutical company’s stock valued at $740,000 after buying an additional 161 shares during the period. Brooks Moore & Associates Inc. increased its position in Bristol-Myers Squibb by 0.6% in the 3rd quarter. Brooks Moore & Associates Inc. now owns 29,879 shares of the biopharmaceutical company’s stock worth $1,768,000 after purchasing an additional 168 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in Bristol-Myers Squibb by 0.4% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 42,319 shares of the biopharmaceutical company’s stock worth $2,828,000 after purchasing an additional 169 shares during the last quarter. Orca Investment Management LLC increased its position in Bristol-Myers Squibb by 0.4% in the 3rd quarter. Orca Investment Management LLC now owns 41,993 shares of the biopharmaceutical company’s stock worth $2,485,000 after purchasing an additional 176 shares during the last quarter. Finally, Leisure Capital Management increased its holdings in shares of Bristol-Myers Squibb by 0.8% during the 3rd quarter. Leisure Capital Management now owns 22,818 shares of the biopharmaceutical company’s stock valued at $1,350,000 after acquiring an additional 176 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently weighed in on BMY. The Goldman Sachs Group began coverage on Bristol-Myers Squibb in a research note on Friday, December 17th. They set a “buy” rating and a $72.00 target price for the company. BMO Capital Markets began coverage on Bristol-Myers Squibb in a research note on Thursday, November 18th. They issued an “outperform” rating and a $72.00 target price for the company. Morgan Stanley reduced their price target on Bristol-Myers Squibb from $71.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 12th. Barclays reduced their price target on Bristol-Myers Squibb from $68.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 28th. Finally, Wells Fargo & Company began coverage on Bristol-Myers Squibb in a research report on Wednesday, December 8th. They issued an “equal weight” rating and a $58.00 price target on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $66.80.

BMY stock traded up $0.05 during midday trading on Friday, hitting $64.65. 253,138 shares of the company’s stock were exchanged, compared to its average volume of 11,426,398. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.47. The stock’s fifty day moving average price is $59.82 and its 200-day moving average price is $62.43. The company has a market cap of $143.50 billion, a PE ratio of -26.92, a price-to-earnings-growth ratio of 1.06 and a beta of 0.64. Bristol-Myers Squibb has a one year low of $53.22 and a one year high of $69.75.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Tuesday, October 26th. The biopharmaceutical company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. Bristol-Myers Squibb had a positive return on equity of 43.05% and a negative net margin of 11.89%. The firm had revenue of $11.62 billion for the quarter, compared to the consensus estimate of $11.52 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. On average, analysts expect that Bristol-Myers Squibb will post 7.52 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, January 7th will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, January 6th. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a yield of 3.34%. Bristol-Myers Squibb’s dividend payout ratio is presently -90.00%.

In other news, EVP Autenried Paul Von sold 17,353 shares of the company’s stock in a transaction on Wednesday, November 24th. The shares were sold at an average price of $56.92, for a total transaction of $987,732.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Company Profile

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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