Archer Investment Corp Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Archer Investment Corp reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,762 shares of the biopharmaceutical company’s stock after selling 314 shares during the period. Archer Investment Corp’s holdings in Bristol-Myers Squibb were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMY. True Wealth Design LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at approximately $26,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $31,000. Coppell Advisory Solutions LLC acquired a new position in Bristol-Myers Squibb in the second quarter valued at $28,000. Live Oak Investment Partners acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $33,000. Finally, OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb during the third quarter worth approximately $25,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of BMY traded down $0.50 during mid-day trading on Wednesday, reaching $47.76. 7,441,752 shares of the company’s stock were exchanged, compared to its average volume of 15,783,534. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The company has a 50-day simple moving average of $51.27 and a two-hundred day simple moving average of $51.62. The company has a market cap of $96.80 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.46 and a beta of 0.39. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results 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 the consensus estimate of $11.19 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.03%. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BMY shares. Wells Fargo & Company decreased their price target on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.12.

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.