Silvercrest Asset Management Group LLC Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

Silvercrest Asset Management Group LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,770 shares of the biopharmaceutical company’s stock after selling 387 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Bristol-Myers Squibb were worth $6,061,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BMY. Caxton Associates LP grew its position in Bristol-Myers Squibb by 5.5% during the first quarter. Caxton Associates LP now owns 27,369 shares of the biopharmaceutical company’s stock valued at $1,484,000 after buying an additional 1,430 shares during the period. Lavaca Capital LLC grew its position in shares of Bristol-Myers Squibb by 7.2% during the 1st quarter. Lavaca Capital LLC now owns 4,395 shares of the biopharmaceutical company’s stock valued at $238,000 after acquiring an additional 295 shares during the period. SVB Wealth LLC increased its stake in shares of Bristol-Myers Squibb by 0.6% in the 1st quarter. SVB Wealth LLC now owns 93,979 shares of the biopharmaceutical company’s stock valued at $5,096,000 after purchasing an additional 536 shares in the last quarter. QVR LLC acquired a new position in Bristol-Myers Squibb in the 1st quarter worth about $358,000. Finally, Mount Yale Investment Advisors LLC boosted its position in Bristol-Myers Squibb by 5.4% during the first quarter. Mount Yale Investment Advisors LLC now owns 180,464 shares of the biopharmaceutical company’s stock worth $9,787,000 after purchasing an additional 9,238 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of BMY stock traded up $0.06 during trading hours on Tuesday, hitting $49.04. The company had a trading volume of 11,975,229 shares, compared to its average volume of 15,935,243. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The stock has a market capitalization of $99.41 billion, a PE ratio of -15.59, a price-to-earnings-growth ratio of 17.25 and a beta of 0.44. The company’s fifty day moving average is $41.87 and its 200 day moving average is $46.75. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 11.52% and a negative net margin of 14.06%. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the prior year, the firm earned $1.75 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Research analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

BMY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. BMO Capital Markets decreased 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 note on Friday, April 26th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target for the company. in a research report on Monday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $55.79.

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.