Argyle Capital Management Inc. Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Argyle Capital Management Inc. lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,618 shares of the biopharmaceutical company’s stock after selling 8,150 shares during the period. Bristol-Myers Squibb comprises 1.4% of Argyle Capital Management Inc.’s portfolio, making the stock its 26th largest holding. Argyle Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. raised its position in Bristol-Myers Squibb by 532.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after acquiring an additional 1,582 shares during the last quarter. Institute for Wealth Management LLC. raised its position in shares of Bristol-Myers Squibb by 1.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after buying an additional 296 shares during the last quarter. Herold Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 3.2% in the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after buying an additional 1,051 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in shares of Bristol-Myers Squibb by 9.5% in the third quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock valued at $8,115,000 after buying an additional 12,121 shares during the last quarter. Finally, Metis Global Partners LLC raised its position in shares of Bristol-Myers Squibb by 14.8% in the third quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock valued at $5,907,000 after buying an additional 13,122 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Barclays cut their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday. BMO Capital Markets lowered their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday. Finally, Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Up 0.3 %

BMY traded up $0.15 during trading on Friday, hitting $44.85. The company had a trading volume of 21,281,927 shares, compared to its average volume of 12,141,314. The business has a 50-day moving average of $51.03 and a 200-day moving average of $51.10. Bristol-Myers Squibb has a 1-year low of $44.34 and a 1-year high of $69.10. The company has a market cap of $90.90 billion, a PE ratio of -14.47, a P/E/G ratio of 16.31 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the business earned $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current 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 issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.