Grove Bank & Trust Decreases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Grove Bank & Trust trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,815 shares of the biopharmaceutical company’s stock after selling 549 shares during the period. Grove Bank & Trust’s holdings in Bristol-Myers Squibb were worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BMY. Beverly Hills Private Wealth LLC raised its holdings in Bristol-Myers Squibb by 23.1% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 9,171 shares of the biopharmaceutical company’s stock valued at $471,000 after buying an additional 1,720 shares during the last quarter. Conning Inc. lifted its stake in shares of Bristol-Myers Squibb by 13.5% in the 4th quarter. Conning Inc. now owns 676,087 shares of the biopharmaceutical company’s stock valued at $34,621,000 after purchasing an additional 80,386 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Bristol-Myers Squibb by 3.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,594,092 shares of the biopharmaceutical company’s stock worth $287,033,000 after purchasing an additional 172,769 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $1,395,000. Finally, Louisiana State Employees Retirement System purchased a new position in Bristol-Myers Squibb in the fourth quarter worth about $6,311,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $48.63 on Monday. The company has a market capitalization of $98.56 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.78 and a beta of 0.39. 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 stock’s 50-day simple moving average is $51.28 and its 200-day simple moving average is $51.75. 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 posted its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.82 EPS. As a group, analysts expect that Bristol-Myers Squibb will post 5.41 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.12.

Bristol-Myers Squibb Company 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.