Bristol-Myers Squibb (NYSE:BMY) Holdings Lowered by Corrado Advisors LLC

Corrado Advisors LLC reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 14.8% in the 4th quarter, Holdings Channel reports. The fund owned 27,887 shares of the biopharmaceutical company’s stock after selling 4,838 shares during the period. Corrado Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,577,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its stake in Bristol-Myers Squibb by 1.6% in the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after acquiring an additional 1,451,214 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after purchasing an additional 1,968,729 shares in the last quarter. FMR LLC raised its stake in shares of Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Bristol-Myers Squibb by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after purchasing an additional 1,036,495 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Bristol-Myers Squibb by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock worth $1,398,948,000 after purchasing an additional 1,482,410 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $57.34 on Thursday. The stock has a 50 day moving average of $57.06 and a two-hundred day moving average of $54.58. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The company has a market capitalization of $116.35 billion, a P/E ratio of -12.97, a P/E/G ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, equities analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were paid a $0.62 dividend. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.33%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BMY. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Morgan Stanley increased their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Wolfe Research assumed coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $57.86.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by insiders.

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.