Patriot Investment Management Group Inc. Has $370,000 Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Patriot Investment Management Group Inc. reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 23.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,900 shares of the biopharmaceutical company’s stock after selling 2,729 shares during the period. Patriot Investment Management Group Inc.’s holdings in Bristol-Myers Squibb were worth $370,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. Northwest Financial Advisors acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at about $27,000. Accordant Advisory Group Inc acquired a new position in Bristol-Myers Squibb in the first quarter valued at about $31,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $40,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. TD Cowen increased their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday. BMO Capital Markets decreased their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Barclays downgraded 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on 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. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $54.86.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.37 during mid-day trading on Monday, reaching $47.09. 11,940,571 shares of the company traded hands, compared to its average volume of 15,941,658. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.41. The company has a market capitalization of $95.46 billion, a price-to-earnings ratio of -15.22, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44. The firm’s fifty day moving average is $43.02 and its two-hundred day moving average is $46.60.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.10%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Bristol-Myers Squibb Company 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.