DT Investment Partners LLC Sells 595 Shares of Bristol-Myers Squibb (NYSE:BMY)

DT Investment Partners LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.2% during the 4th quarter, HoldingsChannel reports. The firm owned 18,070 shares of the biopharmaceutical company’s stock after selling 595 shares during the period. DT Investment Partners LLC’s holdings in Bristol-Myers Squibb were worth $892,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $26,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $31,000. Coppell Advisory Solutions LLC acquired a new stake in Bristol-Myers Squibb during the 2nd quarter worth approximately $28,000. Live Oak Investment Partners acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $33,000. Finally, OFI Invest Asset Management acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. 76.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BMY shares. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. 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. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Stock Up 1.3 %

BMY stock traded up $0.63 during midday trading on Friday, reaching $48.93. 10,303,913 shares of the company’s stock traded hands, compared to its average volume of 10,788,345. The company has a market cap of $99.17 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.46 and a beta of 0.39. The firm’s fifty day moving average price is $51.23 and its 200-day moving average price is $51.51. 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 52 week low of $47.58 and a 52 week high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last posted its 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. 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 analyst estimates of $11.19 billion. During the same quarter in the prior year, the business posted $1.82 EPS. The business’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.90%. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

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.