Wintrust Investments LLC Trims Position in Bristol-Myers Squibb (NYSE:BMY)

Wintrust Investments LLC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.4% in the second quarter, Holdings Channel reports. The fund owned 142,259 shares of the biopharmaceutical company’s stock after selling 25,911 shares during the quarter. Bristol-Myers Squibb comprises 0.9% of Wintrust Investments LLC’s investment portfolio, making the stock its 18th biggest holding. Wintrust Investments LLC’s holdings in Bristol-Myers Squibb were worth $9,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Dillon & Associates Inc. grew its position in Bristol-Myers Squibb by 3.9% in the first quarter. Dillon & Associates Inc. now owns 3,955 shares of the biopharmaceutical company’s stock worth $245,000 after acquiring an additional 150 shares during the period. Abbrea Capital LLC lifted its stake in Bristol-Myers Squibb by 1.5% during the first quarter. Abbrea Capital LLC now owns 10,025 shares of the biopharmaceutical company’s stock worth $695,000 after purchasing an additional 150 shares in the last quarter. Westshore Wealth LLC lifted its stake in Bristol-Myers Squibb by 4.3% during the first quarter. Westshore Wealth LLC now owns 3,658 shares of the biopharmaceutical company’s stock worth $254,000 after purchasing an additional 151 shares in the last quarter. Providence Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 0.5% during the first quarter. Providence Wealth Advisors LLC now owns 28,179 shares of the biopharmaceutical company’s stock worth $1,952,000 after purchasing an additional 153 shares in the last quarter. Finally, Lebenthal Global Advisors LLC lifted its stake in Bristol-Myers Squibb by 1.5% during the first quarter. Lebenthal Global Advisors LLC now owns 10,533 shares of the biopharmaceutical company’s stock worth $730,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $50.40 on Wednesday. The stock’s 50-day moving average is $56.14 and its two-hundred day moving average is $61.20. The firm has a market cap of $102.55 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.57 and a beta of 0.38. Bristol-Myers Squibb has a 1 year low of $49.49 and a 1 year high of $81.43. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.18.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.24. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.96 billion. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.99 earnings per share. Analysts predict that Bristol-Myers Squibb will post 7.56 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is 57.87%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the transaction, the executive vice president now owns 27,868 shares of the company’s stock, valued at $1,706,915. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BMY. TD Cowen decreased their price target on Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating on the stock in a research note on Friday, September 15th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. Atlantic Securities reduced their price objective on Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 28th. Truist Financial reiterated a “buy” rating and issued a $84.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. Finally, Barclays reduced their price objective on Bristol-Myers Squibb from $60.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.59.

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.