Truewealth LLC lowered its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 46.4% during the first quarter, HoldingsChannel.com reports. The fund owned 2,308 shares of the biopharmaceutical company’s stock after selling 2,000 shares during the quarter. Truewealth LLC’s holdings in Bristol-Myers Squibb were worth $110,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Financial Planning LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $26,000. Well Done LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $30,000. Riverview Trust Co acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $33,000. Finally, Trust Department MB Financial Bank N A acquired a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 74.09% of the company’s stock.

Bristol-Myers Squibb stock opened at $46.63 on Thursday. The company has a market capitalization of $76.27 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 2.15 and a beta of 0.77. The company has a current ratio of 1.93, a quick ratio of 1.79 and a debt-to-equity ratio of 0.37. Bristol-Myers Squibb Co has a twelve month low of $44.30 and a twelve month high of $63.69.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.01. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.72 billion. Bristol-Myers Squibb had a net margin of 22.23% and a return on equity of 48.72%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share. Equities research analysts forecast that Bristol-Myers Squibb Co will post 4.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is 41.21%.

BMY has been the topic of several research reports. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, March 5th. BMO Capital Markets reiterated a “buy” rating and issued a $59.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, February 19th. Credit Suisse Group reiterated a “hold” rating and issued a $59.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, February 15th. Finally, Bank of America set a $53.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Friday, January 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.64.

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Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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