Delta Financial Advisors LLC Sells 11,231 Shares of Bristol-Myers Squibb (NYSE:BMY)

Delta Financial Advisors LLC trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 38.4% during the fourth quarter, HoldingsChannel reports. The fund owned 17,988 shares of the biopharmaceutical company’s stock after selling 11,231 shares during the period. Delta Financial Advisors LLC’s holdings in Bristol-Myers Squibb were worth $923,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Dakota Wealth Management acquired a new position in Bristol-Myers Squibb during the first quarter worth $332,000. Covestor Ltd grew its holdings in shares of Bristol-Myers Squibb by 111.5% in the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 1,082 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Bristol-Myers Squibb by 53.2% in the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after acquiring an additional 57,444 shares during the last quarter. Ergoteles LLC bought a new stake in Bristol-Myers Squibb during the first quarter worth about $1,997,000. Finally, Mackenzie Financial Corp boosted its position in Bristol-Myers Squibb by 25.1% during the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after purchasing an additional 68,018 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.6 %

Shares of BMY stock traded up $0.30 on Thursday, reaching $48.14. 3,745,537 shares of the company were exchanged, compared to its average volume of 15,683,751. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The company has a market cap of $97.57 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.49 and a beta of 0.39. The company has a 50-day moving average of $51.26 and a 200-day moving average of $51.59. 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:BMY) last announced its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 earnings per share. Analysts anticipate that Bristol-Myers Squibb will post 6.47 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.99%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.18.

About Bristol-Myers Squibb

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.