Financial Advisors Network Inc. Sells 1,810 Shares of Bristol Myers Squibb Company $BMY

Financial Advisors Network Inc. reduced its position in Bristol Myers Squibb Company (NYSE:BMY) by 27.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,682 shares of the biopharmaceutical company’s stock after selling 1,810 shares during the quarter. Financial Advisors Network Inc.’s holdings in Bristol Myers Squibb were worth $286,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after buying an additional 12,011,983 shares in the last quarter. GQG Partners LLC lifted its position in shares of Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after buying an additional 11,970,598 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Bristol Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock valued at $705,309,000 after buying an additional 10,913,708 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Bristol Myers Squibb in the first quarter valued at $624,369,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $48.19 on Tuesday. The business’s 50-day simple moving average is $47.21 and its 200 day simple moving average is $51.32. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The stock has a market cap of $98.09 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.48 and a beta of 0.36. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.07 EPS. As a group, research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.1%. Bristol Myers Squibb’s dividend payout ratio is 100.00%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BMY. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Wall Street Zen lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Jefferies Financial Group dropped their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.38.

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.