Valley Wealth Managers Inc. Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Valley Wealth Managers Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,931 shares of the biopharmaceutical company’s stock after selling 7,824 shares during the period. Valley Wealth Managers Inc.’s holdings in Bristol-Myers Squibb were worth $3,559,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BMY. Reston Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management increased its stake in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the last quarter. Kennebec Savings Bank bought a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC increased its stake in Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research reports. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Morgan Stanley lifted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Wolfe Research initiated coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Trading Down 3.8 %

BMY opened at $53.85 on Tuesday. The firm has a market cap of $109.22 billion, a price-to-earnings ratio of -12.18, a PEG ratio of 2.13 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The stock has a fifty day moving average price of $57.21 and a 200-day moving average price of $54.15.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 6.75 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.61%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

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.