Summit Trail Advisors LLC Sells 1,765 Shares of Bristol-Myers Squibb (NYSE:BMY)

Summit Trail Advisors LLC trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,626 shares of the biopharmaceutical company’s stock after selling 1,765 shares during the quarter. Summit Trail Advisors LLC’s holdings in Bristol-Myers Squibb were worth $597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BMY. Metis Global Partners LLC grew its stake in shares of Bristol-Myers Squibb by 17.2% in the fourth quarter. Metis Global Partners LLC now owns 119,251 shares of the biopharmaceutical company’s stock worth $6,119,000 after purchasing an additional 17,479 shares during the last quarter. Gallacher Capital Management LLC increased its stake in shares of Bristol-Myers Squibb by 57.1% in the fourth quarter. Gallacher Capital Management LLC now owns 7,857 shares of the biopharmaceutical company’s stock valued at $403,000 after buying an additional 2,855 shares during the period. Sheets Smith Wealth Management raised its position in shares of Bristol-Myers Squibb by 3.2% during the fourth quarter. Sheets Smith Wealth Management now owns 62,008 shares of the biopharmaceutical company’s stock worth $3,182,000 after acquiring an additional 1,917 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Bristol-Myers Squibb by 88.4% in the fourth quarter. National Bank of Canada FI now owns 2,827,499 shares of the biopharmaceutical company’s stock worth $149,176,000 after acquiring an additional 1,326,387 shares during the period. Finally, Measured Wealth Private Client Group LLC increased its position in Bristol-Myers Squibb by 12.8% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 6,336 shares of the biopharmaceutical company’s stock valued at $325,000 after purchasing an additional 720 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

NYSE BMY traded up $0.07 during trading hours on Tuesday, hitting $43.97. The company had a trading volume of 3,007,062 shares, compared to its average volume of 15,689,702. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The firm has a market capitalization of $89.13 billion, a price-to-earnings ratio of -14.20, a PEG ratio of 14.82 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $43.33 and a 52 week high of $69.10. The firm has a 50 day simple moving average of $50.24 and a 200 day simple moving average of $50.57.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 EPS. Equities research analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.46%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets decreased their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company lifted their price objective on 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. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.00.

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.