Park Avenue Securities LLC Sells 8,068 Shares of Bristol-Myers Squibb (NYSE:BMY)

Park Avenue Securities LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,443 shares of the biopharmaceutical company’s stock after selling 8,068 shares during the period. Park Avenue Securities LLC’s holdings in Bristol-Myers Squibb were worth $1,846,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BMY. Strategic Blueprint LLC grew its position in Bristol-Myers Squibb by 78.6% in the fourth quarter. Strategic Blueprint LLC now owns 9,715 shares of the biopharmaceutical company’s stock worth $498,000 after acquiring an additional 4,275 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in shares of Bristol-Myers Squibb by 9.8% during the 4th quarter. Pinnacle Bancorp Inc. now owns 2,761 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 247 shares during the last quarter. RFG Advisory LLC raised its holdings in shares of Bristol-Myers Squibb by 6.3% during the 4th quarter. RFG Advisory LLC now owns 18,016 shares of the biopharmaceutical company’s stock valued at $924,000 after buying an additional 1,064 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Bristol-Myers Squibb by 11.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,740,153 shares of the biopharmaceutical company’s stock worth $89,287,000 after buying an additional 177,387 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth approximately $40,000. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price for the company. in a report on Monday, July 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $55.79.

Bristol-Myers Squibb Stock Down 1.7 %

NYSE:BMY traded down $0.82 on Wednesday, reaching $46.49. 16,891,214 shares of the stock traded hands, compared to its average volume of 15,985,230. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $94.24 billion, a price-to-earnings ratio of -15.00, a PEG ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.41. The company’s fifty day simple moving average is $42.65 and its 200 day simple moving average is $46.67.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.75 EPS. Equities analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.16%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.