Confluence Wealth Services Inc. Has $542,000 Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Confluence Wealth Services Inc. decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 28.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,999 shares of the biopharmaceutical company’s stock after selling 3,879 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Bristol-Myers Squibb were worth $542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. boosted its holdings 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 valued at $96,000 after acquiring an additional 1,582 shares during the period. Institute for Wealth Management LLC. grew its holdings in Bristol-Myers Squibb by 1.0% in the 4th 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. grew its holdings in Bristol-Myers Squibb by 3.2% in the 3rd 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 increased its position in Bristol-Myers Squibb by 9.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after buying an additional 12,121 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in shares of Bristol-Myers Squibb by 14.8% during the third quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after buying an additional 13,122 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $0.68 on Tuesday, reaching $43.96. The stock had a trading volume of 17,712,926 shares, compared to its average volume of 15,994,846. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The company has a market capitalization of $89.11 billion, a P/E ratio of -14.18, a price-to-earnings-growth ratio of 15.47 and a beta of 0.39. Bristol-Myers Squibb has a 1-year low of $43.93 and a 1-year high of $69.10. The stock has a fifty day moving average price of $50.81 and a 200-day moving average price of $50.93.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the previous year, the business earned $2.05 EPS. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Bristol-Myers Squibb will post 0.58 EPS 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.46%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BMY shares. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. BMO Capital Markets dropped their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb 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.