Carmichael Hill & Associates Inc. Has $148,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Carmichael Hill & Associates Inc. lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,860 shares of the biopharmaceutical company’s stock after selling 536 shares during the period. Carmichael Hill & Associates Inc.’s holdings in Bristol-Myers Squibb were worth $148,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI lifted its holdings in shares of Bristol-Myers Squibb by 1.8% during the third quarter. Arcadia Investment Management Corp MI now owns 25,001 shares of the biopharmaceutical company’s stock worth $1,294,000 after buying an additional 430 shares during the last quarter. Janney Capital Management LLC increased its position in Bristol-Myers Squibb by 1.9% during the third quarter. Janney Capital Management LLC now owns 45,664 shares of the biopharmaceutical company’s stock worth $2,363,000 after acquiring an additional 833 shares during the period. Greenwich Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the 3rd quarter valued at $224,000. Fullcircle Wealth LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $211,000. Finally, AM Investment Strategies LLC increased its holdings in shares of Bristol-Myers Squibb by 8.9% during the 3rd quarter. AM Investment Strategies LLC now owns 85,052 shares of the biopharmaceutical company’s stock worth $4,401,000 after purchasing an additional 6,960 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $54.32 on Friday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.20. The company has a 50 day moving average of $51.26 and a 200-day moving average of $46.57. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The firm has a market cap of $110.13 billion, a price-to-earnings ratio of -16.66, a PEG ratio of 14.62 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $2.00 EPS. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.72 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.42%. Bristol-Myers Squibb’s payout ratio is -73.62%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BMY. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Friday. Finally, TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.00.

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.