Diversify Advisory Services LLC Has $508,000 Holdings in Bristol-Myers Squibb (NYSE:BMY)

Diversify Advisory Services LLC trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 45.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,435 shares of the biopharmaceutical company’s stock after selling 10,525 shares during the period. Diversify Advisory Services LLC’s holdings in Bristol-Myers Squibb were worth $508,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BMY. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $27,000. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. Accordant Advisory Group Inc acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $31,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $34,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $40,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded down $0.13 during midday trading on Friday, reaching $46.72. 14,083,504 shares of the stock were exchanged, compared to its average volume of 15,967,806. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.41. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a market cap of $94.71 billion, a P/E ratio of -15.07, a PEG ratio of 12.51 and a beta of 0.44. The stock’s 50 day simple moving average is $43.02 and its 200 day simple moving average is $46.62.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results 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. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BMY. Wells Fargo & Company raised 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 shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price for the company. in a research note on Monday, July 29th. BMO Capital Markets decreased their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.79.

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.