Bristol-Myers Squibb (NYSE:BMY) Stake Reduced by Carmichael Hill & Associates Inc.

Carmichael Hill & Associates Inc. reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,296 shares of the biopharmaceutical company’s stock after selling 424 shares during the quarter. Carmichael Hill & Associates Inc.’s holdings in Bristol-Myers Squibb were worth $169,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Bristol-Myers Squibb by 8.0% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 21,978 shares of the biopharmaceutical company’s stock worth $1,128,000 after purchasing an additional 1,633 shares in the last quarter. Visionary Horizons LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $643,000. GAM Holding AG lifted its holdings in shares of Bristol-Myers Squibb by 115.3% in the fourth quarter. GAM Holding AG now owns 237,813 shares of the biopharmaceutical company’s stock valued at $12,202,000 after buying an additional 127,363 shares during the period. Richard W. Paul & Associates LLC lifted its holdings in shares of Bristol-Myers Squibb by 50.8% in the fourth quarter. Richard W. Paul & Associates LLC now owns 11,791 shares of the biopharmaceutical company’s stock valued at $605,000 after buying an additional 3,973 shares during the period. Finally, Trust Point Inc. acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $904,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.12.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $51.40 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $71.07. The stock’s 50-day moving average is $51.15 and its two-hundred day moving average is $52.20. The firm has a market cap of $104.18 billion, a P/E ratio of 13.32, a PEG ratio of 1.59 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.15. The company had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. Analysts predict that Bristol-Myers Squibb will post 6.61 earnings per share for the current fiscal year.

Bristol-Myers Squibb announced that its Board of Directors has authorized 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 reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is 62.18%.

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.