Wright Investors Service Inc. Has $4.68 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Wright Investors Service Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,200 shares of the biopharmaceutical company’s stock after selling 11,837 shares during the period. Bristol-Myers Squibb comprises 1.3% of Wright Investors Service Inc.’s investment portfolio, making the stock its 17th biggest holding. Wright Investors Service Inc.’s holdings in Bristol-Myers Squibb were worth $4,679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Riversedge Advisors LLC lifted its position in Bristol-Myers Squibb by 3.2% during the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after purchasing an additional 178 shares during the period. Vicus Capital lifted its position in Bristol-Myers Squibb by 3.9% during the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 179 shares during the period. Front Row Advisors LLC lifted its position in Bristol-Myers Squibb by 17.5% during the fourth quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 182 shares during the period. Cassia Capital Partners LLC lifted its position in Bristol-Myers Squibb by 2.3% during the third quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock valued at $460,000 after purchasing an additional 182 shares during the period. Finally, Lindbrook Capital LLC lifted its position in Bristol-Myers Squibb by 2.3% during the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BMY. Wells Fargo & Company increased 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 report on Thursday. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Price Performance

BMY traded up $0.26 during trading on Thursday, hitting $48.10. 2,784,633 shares of the company traded hands, compared to its average volume of 15,670,663. The company has a market cap of $97.49 billion, a PE ratio of 12.46, a P/E/G ratio of 1.49 and a beta of 0.39. The stock’s 50-day simple moving average is $51.26 and its two-hundred day simple moving average is $51.59. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year 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.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates 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 business 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 business’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.47 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.99%. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

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.