TRUE Private Wealth Advisors Sells 48,125 Shares of Bristol-Myers Squibb (NYSE:BMY)

TRUE Private Wealth Advisors trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 77.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,758 shares of the biopharmaceutical company’s stock after selling 48,125 shares during the period. TRUE Private Wealth Advisors’ holdings in Bristol-Myers Squibb were worth $706,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $25,000. True Wealth Design LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth $26,000. Milestone Investment Advisors LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth $27,000. Coppell Advisory Solutions LLC acquired a new stake in Bristol-Myers Squibb during the 2nd quarter worth $28,000. Finally, Blue Bell Private Wealth Management LLC increased its holdings in Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on BMY. Wells Fargo & Company lowered their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.12.

Bristol-Myers Squibb Stock Down 0.9 %

Shares of BMY opened at $47.83 on Thursday. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The company has a market cap of $96.94 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.49 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. The firm has a 50 day simple moving average of $51.26 and a two-hundred day simple moving average of $51.59.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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. 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 analysts’ expectations of $11.19 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up .6% on a year-over-year basis. Research analysts forecast that Bristol-Myers Squibb will post 6.47 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company 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 $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.02%. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.