Everett Harris & Co. CA Sells 3,367 Shares of Bristol-Myers Squibb (NYSE:BMY)

Everett Harris & Co. CA decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 20.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,215 shares of the biopharmaceutical company’s stock after selling 3,367 shares during the period. Everett Harris & Co. CA’s holdings in Bristol-Myers Squibb were worth $678,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Accel Wealth Management boosted its stake in shares of Bristol-Myers Squibb by 12.7% during the 4th quarter. Accel Wealth Management now owns 4,146 shares of the biopharmaceutical company’s stock valued at $213,000 after purchasing an additional 467 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in shares of Bristol-Myers Squibb by 6.1% during the 4th quarter. WASHINGTON TRUST Co now owns 15,460 shares of the biopharmaceutical company’s stock valued at $793,000 after purchasing an additional 894 shares in the last quarter. Next Level Private LLC boosted its stake in shares of Bristol-Myers Squibb by 8.2% during the 4th quarter. Next Level Private LLC now owns 58,223 shares of the biopharmaceutical company’s stock valued at $2,987,000 after purchasing an additional 4,412 shares in the last quarter. Jacobs & Co. CA boosted its stake in shares of Bristol-Myers Squibb by 0.7% during the 4th quarter. Jacobs & Co. CA now owns 127,314 shares of the biopharmaceutical company’s stock valued at $6,532,000 after purchasing an additional 907 shares in the last quarter. Finally, Highland Capital Management LLC boosted its stake in Bristol-Myers Squibb by 0.3% during the fourth quarter. Highland Capital Management LLC now owns 72,431 shares of the biopharmaceutical company’s stock worth $3,716,000 after acquiring an additional 225 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Wells Fargo & Company dropped their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. Finally, Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded up $0.98 during mid-day trading on Thursday, hitting $54.23. 14,346,012 shares of the company traded hands, compared to its average volume of 16,860,898. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The stock has a 50-day moving average price of $50.79 and a two-hundred day moving average price of $52.44. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $71.07. The stock has a market cap of $109.91 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.59 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating 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 analysts’ expectations of $11.19 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb announced that its Board of Directors has approved a share buyback plan on Thursday, December 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.43%. Bristol-Myers Squibb’s dividend 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.