Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,773 shares of the biopharmaceutical company’s stock after selling 973 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Brown Shipley& Co Ltd raised its stake in shares of Bristol-Myers Squibb by 1.8% in the 2nd quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 164 shares in the last quarter. Riversedge Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 3.2% in the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after acquiring an additional 178 shares in the last quarter. Vicus Capital boosted its holdings in 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 buying an additional 179 shares in the last quarter. Cassia Capital Partners LLC boosted its stake in 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 worth $460,000 after purchasing an additional 182 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in Bristol-Myers Squibb by 2.3% in the 3rd quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock worth $468,000 after purchasing an additional 182 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Up 1.1 %

Shares of BMY traded up $0.60 on Thursday, reaching $53.85. 1,795,522 shares of the company’s stock were exchanged, compared to its average volume of 16,663,486. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $109.14 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.59 and a beta of 0.38. The business has a 50 day moving average price of $50.73 and a two-hundred day moving average price of $52.43. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $71.07.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. The firm had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.82 earnings per share. Research analysts anticipate that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb announced that its board has initiated a stock buyback program on Thursday, December 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Wells Fargo & Company cut 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 research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Profile

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.