Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Coastline Trust Co

Coastline Trust Co lessened its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,387 shares of the biopharmaceutical company’s stock after selling 1,510 shares during the period. Coastline Trust Co’s holdings in Bristol-Myers Squibb were worth $687,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Brown Shipley& Co Ltd increased its position in Bristol-Myers Squibb by 1.8% during the second quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 164 shares in the last quarter. Riversedge Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 3.2% during the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock worth $330,000 after purchasing an additional 178 shares during the last quarter. Vicus Capital boosted its holdings in shares of Bristol-Myers Squibb by 3.9% during the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 179 shares during the last quarter. Front Row Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 17.5% during the fourth quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 182 shares during the last quarter. Finally, Cassia Capital Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 2.3% during the third quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock worth $460,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BMY shares. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Wells Fargo & Company decreased their price objective on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.12.

Get Our Latest Research Report on BMY

Bristol-Myers Squibb Trading Down 0.5 %

Shares of BMY opened at $52.75 on Wednesday. The stock’s 50-day moving average is $51.08 and its two-hundred day moving average is $52.21. The stock has a market cap of $106.91 billion, a PE ratio of 13.67, a P/E/G ratio of 1.60 and a beta of 0.39. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $71.07. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts forecast that Bristol-Myers Squibb will post 6.61 earnings per share for the current fiscal year.

Bristol-Myers Squibb announced that its Board of Directors has initiated a share buyback program on Thursday, December 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

Bristol-Myers Squibb Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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