Marcum Wealth LLC Sells 3,473 Shares of Bristol-Myers Squibb (NYSE:BMY)

Marcum Wealth LLC lessened its position in Bristol-Myers Squibb (NYSE:BMYFree Report) by 29.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,278 shares of the biopharmaceutical company’s stock after selling 3,473 shares during the period. Marcum Wealth LLC’s holdings in Bristol-Myers Squibb were worth $425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $1,873,696,000. Moneta Group Investment Advisors LLC lifted its position in Bristol-Myers Squibb by 114,228.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after purchasing an additional 21,451,006 shares during the period. Capital International Investors lifted its position in Bristol-Myers Squibb by 12.8% during the second quarter. Capital International Investors now owns 69,296,006 shares of the biopharmaceutical company’s stock valued at $4,431,517,000 after purchasing an additional 7,878,833 shares during the period. Cowa LLC lifted its position in Bristol-Myers Squibb by 9,777.8% during the first quarter. Cowa LLC now owns 1,657,894 shares of the biopharmaceutical company’s stock valued at $1,211,000 after purchasing an additional 1,641,110 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Bristol-Myers Squibb by 41.8% during the second quarter. Franklin Resources Inc. now owns 5,322,434 shares of the biopharmaceutical company’s stock valued at $340,370,000 after buying an additional 1,569,932 shares during the last quarter. Institutional investors own 74.98% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.4 %

Shares of Bristol-Myers Squibb stock opened at $51.80 on Wednesday. The firm’s 50 day moving average price is $50.55 and its 200-day moving average price is $52.73. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $71.07. The company has a market cap of $104.75 billion, a P/E ratio of 13.42, a PEG ratio of 1.58 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The firm had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 EPS. On average, sell-side analysts predict that Bristol-Myers Squibb will post 6.61 EPS for the current fiscal year.

Bristol-Myers Squibb announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the biopharmaceutical company to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BMY. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Wells Fargo & Company lowered their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 6th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $61.12.

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About Bristol-Myers Squibb

(Free Report)

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.

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

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