Chemung Canal Trust Co. lowered its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,642 shares of the biopharmaceutical company’s stock after selling 3,352 shares during the quarter. Chemung Canal Trust Co.’s holdings in Bristol-Myers Squibb were worth $2,060,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Arlington Partners LLC boosted its holdings in Bristol-Myers Squibb by 40.0% in the 4th quarter. Arlington Partners LLC now owns 1,400 shares of the biopharmaceutical company’s stock valued at $73,000 after purchasing an additional 400 shares in the last quarter. Cypress Capital Management LLC WY boosted its holdings in Bristol-Myers Squibb by 154.7% in the 3rd quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 1,160 shares in the last quarter. CKW Financial Group boosted its holdings in Bristol-Myers Squibb by 29.4% in the 4th quarter. CKW Financial Group now owns 2,200 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 500 shares in the last quarter. NuWave Investment Management LLC boosted its holdings in Bristol-Myers Squibb by 5,418.2% in the 4th quarter. NuWave Investment Management LLC now owns 2,428 shares of the biopharmaceutical company’s stock valued at $126,000 after purchasing an additional 2,384 shares in the last quarter. Finally, Lavaca Capital LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $127,000. 72.74% of the stock is currently owned by hedge funds and other institutional investors.

BMY stock opened at $49.89 on Friday. Bristol-Myers Squibb Co has a 12-month low of $44.30 and a 12-month high of $70.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 1.40. The company has a market cap of $81.43 billion, a PE ratio of 12.54, a P/E/G ratio of 1.59 and a beta of 0.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, January 24th. The biopharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.09. Bristol-Myers Squibb had a net margin of 21.95% and a return on equity of 50.03%. The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.95 billion. During the same period last year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts forecast that Bristol-Myers Squibb Co will post 4.16 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Friday, January 4th were given a dividend of $0.41 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Thursday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently 41.21%.

A number of brokerages have weighed in on BMY. ValuEngine raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Friday, December 7th. Barclays lifted their price objective on Bristol-Myers Squibb from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, October 12th. William Blair reaffirmed an “outperform” rating on shares of Bristol-Myers Squibb in a report on Monday, October 22nd. Edward Jones lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Finally, Citigroup lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $62.00 to $57.00 in a report on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $61.12.

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Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic areas, 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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