Wilbanks Smith & Thomas Asset Management LLC Sells 102,986 Shares of Bristol-Myers Squibb (NYSE:BMY)

Wilbanks Smith & Thomas Asset Management LLC lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 64.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,850 shares of the biopharmaceutical company’s stock after selling 102,986 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $2,968,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $25,000. Milestone Investment Advisors LLC bought a new position in Bristol-Myers Squibb during the third quarter valued at $27,000. Blue Bell Private Wealth Management LLC lifted its position in shares of Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Legacy Financial Group LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter worth about $39,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $40,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $0.36 during trading hours on Thursday, hitting $43.85. 4,735,075 shares of the stock were exchanged, compared to its average volume of 15,821,210. Bristol-Myers Squibb has a one year low of $43.33 and a one year high of $69.10. The company’s 50 day moving average is $50.67 and its 200 day moving average is $50.89. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.6 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.47%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Analyst Ratings Changes

BMY has been the subject of several recent analyst reports. Barclays cut their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. BMO Capital Markets dropped their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $60.00.

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.