Wright Investors Service Inc. Has $4.68 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Wright Investors Service Inc. lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 91,200 shares of the biopharmaceutical company’s stock after selling 11,837 shares during the period. Bristol-Myers Squibb makes up approximately 1.3% of Wright Investors Service Inc.’s holdings, making the stock its 17th largest position. Wright Investors Service Inc.’s holdings in Bristol-Myers Squibb were worth $4,679,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. True Wealth Design LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $26,000. Milestone Investment Advisors LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $27,000. Coppell Advisory Solutions LLC acquired a new position in Bristol-Myers Squibb in the 2nd quarter valued at approximately $28,000. Finally, Blue Bell Private Wealth Management LLC raised its holdings in Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of several recent research reports. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Trading Up 0.5 %

BMY traded up $0.26 during mid-day trading on Thursday, reaching $48.10. The stock had a trading volume of 2,784,633 shares, compared to its average volume of 15,670,663. The stock has a market capitalization of $97.49 billion, a P/E ratio of 12.46, 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 quick ratio of 1.31 and a current ratio of 1.43. The firm’s fifty day simple moving average is $51.26 and its two-hundred day simple moving average is $51.59. 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, beating analysts’ consensus estimates of $1.55 by $0.15. The company had revenue of $11.48 billion for 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 EPS. On average, equities analysts predict that Bristol-Myers Squibb will post 6.47 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.99%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is presently 62.18%.

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.