Princeton Global Asset Management LLC Has $131,000 Stake in Bristol-Myers Squibb (NYSE:BMY)

Princeton Global Asset Management LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,532 shares of the biopharmaceutical company’s stock after selling 376 shares during the period. Princeton Global Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $131,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the third quarter worth about $25,000. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. Valued Wealth Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares in the last quarter. LGT Financial Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Bristol-Myers Squibb in the third quarter worth $34,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BMY. BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $55.00 in a report on Friday, October 25th. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Finally, Jefferies Financial Group lifted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.00.

Bristol-Myers Squibb Stock Down 2.6 %

BMY stock opened at $54.32 on Monday. The business’s fifty day moving average price is $51.26 and its two-hundred day moving average price is $46.56. The stock has a market capitalization of $110.13 billion, a price-to-earnings ratio of -15.13, a PEG ratio of 15.49 and a beta of 0.44. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.20. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.40% and a negative net margin of 15.30%. Bristol-Myers Squibb’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $2.00 earnings per share. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.72 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.42%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

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.