Spinnaker Trust Has $962,000 Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Spinnaker Trust reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 55.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,741 shares of the biopharmaceutical company’s stock after selling 23,191 shares during the quarter. Spinnaker Trust’s holdings in Bristol-Myers Squibb were worth $962,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BMY. Boston Trust Walden Corp grew its holdings in shares of Bristol-Myers Squibb by 5.3% during the third quarter. Boston Trust Walden Corp now owns 15,258 shares of the biopharmaceutical company’s stock valued at $886,000 after buying an additional 771 shares during the last quarter. Strategic Blueprint LLC grew its holdings in shares of Bristol-Myers Squibb by 8.6% during the third quarter. Strategic Blueprint LLC now owns 5,440 shares of the biopharmaceutical company’s stock valued at $316,000 after buying an additional 431 shares during the last quarter. Connecticut Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter worth about $240,000. Grimes & Company Inc. boosted its holdings in Bristol-Myers Squibb by 4.4% during the third quarter. Grimes & Company Inc. now owns 331,440 shares of the biopharmaceutical company’s stock worth $19,237,000 after purchasing an additional 14,084 shares during the last quarter. Finally, Zullo Investment Group Inc. boosted its holdings in Bristol-Myers Squibb by 8.1% during the third quarter. Zullo Investment Group Inc. now owns 3,506 shares of the biopharmaceutical company’s stock worth $203,000 after purchasing an additional 262 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded up $0.15 during midday trading on Friday, reaching $44.85. 21,281,927 shares of the stock were exchanged, compared to its average volume of 12,141,314. The company’s fifty day moving average is $51.03 and its 200-day moving average is $51.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The firm has a market cap of $90.90 billion, a PE ratio of -14.47, a PEG ratio of 16.25 and a beta of 0.39. Bristol-Myers Squibb has a 52 week low of $44.34 and a 52 week high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 EPS. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.55 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors 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 yield of 5.35%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. BMO Capital Markets lowered their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $60.00.

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.