Cassaday & Co Wealth Management LLC Decreases Position in Bristol-Myers Squibb (NYSE:BMY)

Cassaday & Co Wealth Management LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 13.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,493 shares of the biopharmaceutical company’s stock after selling 1,446 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $537,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Jennison Associates LLC increased its holdings in Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after buying an additional 3,425,789 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after purchasing an additional 3,107,672 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Bristol-Myers Squibb by 18.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after acquiring an additional 3,002,418 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after purchasing an additional 1,968,729 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Morgan Stanley boosted their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Wolfe Research initiated coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $55.85 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The firm’s fifty day simple moving average is $56.99 and its two-hundred day simple moving average is $54.30. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $113.33 billion, a P/E ratio of -12.63, a P/E/G ratio of 2.04 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Analysts forecast that Bristol-Myers Squibb will post 6.74 EPS 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. Investors of record on Friday, January 3rd were paid a $0.62 dividend. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

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.