Granite Bay Wealth Management LLC Has $430,000 Stake in Bristol-Myers Squibb (NYSE:BMY)

Granite Bay Wealth Management LLC decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 24.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,190 shares of the biopharmaceutical company’s stock after selling 2,660 shares during the period. Granite Bay Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Louisiana State Employees Retirement System acquired a new stake in Bristol-Myers Squibb in the 4th quarter worth about $6,311,000. Northstar Asset Management LLC raised its stake in Bristol-Myers Squibb by 6.8% in the 4th quarter. Northstar Asset Management LLC now owns 5,498 shares of the biopharmaceutical company’s stock worth $282,000 after purchasing an additional 350 shares in the last quarter. Graypoint LLC raised its stake in Bristol-Myers Squibb by 15.5% in the 4th quarter. Graypoint LLC now owns 13,775 shares of the biopharmaceutical company’s stock worth $707,000 after purchasing an additional 1,848 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in Bristol-Myers Squibb by 13.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 41,048 shares of the biopharmaceutical company’s stock worth $2,106,000 after purchasing an additional 4,764 shares in the last quarter. Finally, Live Oak Private Wealth LLC raised its stake in Bristol-Myers Squibb by 12.9% in the 4th quarter. Live Oak Private Wealth LLC now owns 6,831 shares of the biopharmaceutical company’s stock worth $350,000 after purchasing an additional 778 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 1.7 %

NYSE BMY traded down $0.84 on Friday, hitting $48.28. The company’s stock had a trading volume of 12,459,210 shares, compared to its average volume of 16,886,538. 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. The company’s 50-day moving average is $51.28 and its 200 day moving average is $51.80. The firm has a market cap of $97.85 billion, a PE ratio of 12.51, a PEG ratio of 1.49 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $1.82 EPS. The company’s revenue was up .6% on a year-over-year basis. As a group, analysts predict that Bristol-Myers Squibb will post 5.41 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Analyst Upgrades and Downgrades

BMY has been the subject of several analyst reports. Wells Fargo & Company dropped their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Company 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.