Western Wealth Management LLC Sells 3,258 Shares of Bristol-Myers Squibb (NYSE:BMY)

Western Wealth Management LLC decreased its stake in Bristol-Myers Squibb (NYSE:BMY) by 18.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,622 shares of the biopharmaceutical company’s stock after selling 3,258 shares during the quarter. Western Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $750,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $26,000. Coppell Advisory Solutions Corp. bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $31,000. Coppell Advisory Solutions LLC bought a new position in shares of Bristol-Myers Squibb in the 2nd quarter worth $28,000. Live Oak Investment Partners bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $33,000. Finally, OFI Invest Asset Management bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth $25,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 1.3 %

NYSE:BMY opened at $48.93 on Friday. The company has a 50-day moving average price of $51.23 and a 200-day moving average price of $51.47. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $70.93. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The stock has a market cap of $99.17 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.46 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period last year, the company posted $1.82 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.90%. Bristol-Myers Squibb’s dividend payout ratio is 62.18%.

Analysts Set New Price Targets

BMY has been the subject of a number of research reports. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Company 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.