Salem Investment Counselors Inc. lessened its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 13.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,105 shares of the biopharmaceutical company’s stock after selling 13,704 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Bristol-Myers Squibb were worth $4,876,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BMY. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in Bristol-Myers Squibb during the first quarter valued at $101,000. Institutional & Family Asset Management LLC purchased a new position in Bristol-Myers Squibb during the first quarter valued at $106,000. Centerpoint Advisors LLC lifted its holdings in Bristol-Myers Squibb by 373.1% during the first quarter. Centerpoint Advisors LLC now owns 1,774 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 1,399 shares in the last quarter. CSat Investment Advisory L.P. purchased a new position in Bristol-Myers Squibb during the second quarter valued at $113,000. Finally, Landaas & Co. WI ADV purchased a new position in Bristol-Myers Squibb during the second quarter valued at $131,000. Institutional investors own 72.29% of the company’s stock.

Shares of NYSE:BMY traded down $0.34 during midday trading on Friday, hitting $60.45. The company’s stock had a trading volume of 9,974 shares, compared to its average volume of 4,720,218. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The company has a market cap of $98.61 billion, a P/E ratio of 20.09, a P/E/G ratio of 1.52 and a beta of 1.02. Bristol-Myers Squibb Co has a 12-month low of $49.96 and a 12-month high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.14. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.48 billion. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. analysts expect that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 53.16%.

Several research firms have issued reports on BMY. SunTrust Banks reaffirmed a “buy” rating and set a $67.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, July 31st. UBS Group downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a report on Monday, May 21st. ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. BMO Capital Markets increased their price objective on shares of Bristol-Myers Squibb from $47.00 to $51.00 and gave the company a “market perform” rating in a report on Monday, July 23rd. Finally, Credit Suisse Group increased their price objective on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $62.89.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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

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