Corrado Advisors LLC Has $1.81 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Corrado Advisors LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,332 shares of the biopharmaceutical company’s stock after selling 1,316 shares during the quarter. Corrado Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BMY. OFI Invest Asset Management bought a new stake in Bristol-Myers Squibb during the third quarter valued at about $25,000. Milestone Investment Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter valued at about $27,000. Blue Bell Private Wealth Management LLC raised its position in shares of Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. Legacy Financial Group LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter valued at about $39,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $40,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. 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 report on Tuesday, February 6th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. 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 report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded down $0.14 during mid-day trading on Tuesday, hitting $49.00. 9,147,169 shares of the company traded hands, compared to its average volume of 15,525,874. The stock has a market cap of $99.31 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The stock has a fifty day moving average price of $51.22 and a 200-day moving average price of $51.38. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping 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 company had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts predict that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

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.