Sterneck Capital Management LLC Sells 540 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sterneck Capital Management LLC lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 8.9% in the first quarter, HoldingsChannel reports. The firm owned 5,522 shares of the biopharmaceutical company’s stock after selling 540 shares during the quarter. Sterneck Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $337,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Bristol-Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock valued at $10,743,262,000 after buying an additional 1,373,209 shares in the last quarter. Capital International Investors lifted its position in Bristol-Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock valued at $2,593,940,000 after acquiring an additional 3,218,865 shares during the period. Geode Capital Management LLC boosted its stake in Bristol-Myers Squibb by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock worth $2,505,967,000 after acquiring an additional 1,187,231 shares in the last quarter. Norges Bank purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $1,989,525,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Bristol-Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of Bristol-Myers Squibb stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Trading Up 0.9%

NYSE:BMY opened at $48.26 on Friday. The company has a market cap of $98.21 billion, a PE ratio of -10.92, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a 50 day simple moving average of $50.49 and a two-hundred day simple moving average of $55.37. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the previous year, the company posted ($4.40) earnings per share. Bristol-Myers Squibb’s revenue was down 5.6% compared to the same quarter last year. Research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BMY. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. UBS Group reduced their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Finally, Jefferies Financial Group decreased their target price 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. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $58.00.

About Bristol-Myers Squibb

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.