West Oak Capital LLC Has $173,000 Holdings in Bristol-Myers Squibb (NYSE:BMY)

West Oak Capital LLC cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,440 shares of the biopharmaceutical company’s stock after selling 750 shares during the period. West Oak Capital LLC’s holdings in Bristol-Myers Squibb were worth $173,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Bristol-Myers Squibb in the third quarter worth approximately $25,000. True Wealth Design LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $26,000. Milestone Investment Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth about $27,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $28,000. Finally, Blue Bell Private Wealth Management LLC lifted its position in shares of Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BMY shares. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Redburn Atlantic lowered 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 report on Tuesday, February 6th. Finally, Wells Fargo & Company cut their price target on shares of 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. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Trading Up 1.3 %

BMY traded up $0.68 during midday trading on Thursday, reaching $53.93. 2,101,045 shares of the company’s stock traded hands, compared to its average volume of 16,669,156. The stock has a market capitalization of $109.30 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.59 and a beta of 0.38. Bristol-Myers Squibb has a 52 week low of $47.58 and a 52 week high of $71.07. The firm has a fifty day moving average of $50.73 and a two-hundred day moving average of $52.43. 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 (NYSE:BMY) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 earnings per share. On average, equities analysts anticipate that Bristol-Myers Squibb will post 6.61 earnings per share for the current fiscal year.

Bristol-Myers Squibb announced that its board has authorized a share buyback program on Thursday, December 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.45%. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

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.