Linscomb Wealth Inc. Has $305,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Linscomb Wealth Inc. reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.0% in the first quarter, HoldingsChannel.com reports. The fund owned 5,629 shares of the biopharmaceutical company’s stock after selling 422 shares during the quarter. Linscomb Wealth Inc.’s holdings in Bristol-Myers Squibb were worth $305,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth about $27,000. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $27,000. Accordant Advisory Group Inc bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth about $31,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $40,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BMY. Barclays cut their price objective on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. BMO Capital Markets dropped their price target 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, April 26th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $57.73.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded up $5.18 during mid-day trading on Friday, hitting $50.45. 36,636,434 shares of the stock were exchanged, compared to its average volume of 15,289,099. The company has a 50-day simple moving average of $41.76 and a 200 day simple moving average of $46.79. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.41. The company has a market capitalization of $102.27 billion, a P/E ratio of -16.27, a P/E/G ratio of 17.07 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same quarter last year, the business posted $1.75 EPS. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.53 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.76%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

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.