Court Place Advisors LLC Sells 3,339 Shares of Bristol-Myers Squibb (NYSE:BMY)

Court Place Advisors LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 18.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,953 shares of the biopharmaceutical company’s stock after selling 3,339 shares during the period. Court Place Advisors LLC’s holdings in Bristol-Myers Squibb were worth $767,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Riversedge Advisors LLC increased its stake in Bristol-Myers Squibb by 3.2% during the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 178 shares during the period. Vicus Capital increased its position in shares of Bristol-Myers Squibb by 3.9% in the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 179 shares during the last quarter. Front Row Advisors LLC increased its position in shares of Bristol-Myers Squibb by 17.5% in the 4th quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 182 shares during the last quarter. Cassia Capital Partners LLC increased its position in shares of Bristol-Myers Squibb by 2.3% in the 3rd quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock valued at $460,000 after purchasing an additional 182 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Bristol-Myers Squibb by 2.3% in the 3rd quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 182 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BMY has been the topic of a number of recent analyst reports. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Wells Fargo & Company lowered their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $61.12.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded down $0.43 during trading hours on Wednesday, reaching $47.83. 11,759,869 shares of the company’s stock were exchanged, compared to its average volume of 15,847,523. The firm has a market capitalization of $96.94 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.46 and a beta of 0.39. The company has a 50-day moving average of $51.27 and a 200 day moving average of $51.62. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter in the prior year, the business earned $1.82 EPS. Bristol-Myers Squibb’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts anticipate that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

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.