Cassady Schiller Wealth Management LLC Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Cassady Schiller Wealth Management LLC lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,993 shares of the biopharmaceutical company’s stock after selling 307 shares during the quarter. Cassady Schiller Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Frazier Financial Advisors LLC bought a new position in Bristol-Myers Squibb in the 4th quarter valued at $47,000. Tidemark LLC bought a new position in Bristol-Myers Squibb in the 4th quarter valued at $84,000. Delta Asset Management LLC TN grew its position in Bristol-Myers Squibb by 7.6% in the 4th quarter. Delta Asset Management LLC TN now owns 77,464 shares of the biopharmaceutical company’s stock valued at $3,975,000 after acquiring an additional 5,488 shares during the last quarter. Alpha Family Trust bought a new position in Bristol-Myers Squibb in the 4th quarter valued at $365,000. Finally, Financial Advisors Network Inc. grew its position in Bristol-Myers Squibb by 5.9% in the 4th quarter. Financial Advisors Network Inc. now owns 4,554 shares of the biopharmaceutical company’s stock valued at $234,000 after acquiring an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on BMY. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Barclays dropped their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Finally, BMO Capital Markets dropped their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Down 1.7 %

Bristol-Myers Squibb stock traded down $0.73 during midday trading on Thursday, reaching $41.61. The company’s stock had a trading volume of 8,381,124 shares, compared to its average volume of 15,462,521. The stock’s 50-day simple moving average is $48.24 and its 200-day simple moving average is $49.80. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. Bristol-Myers Squibb has a 52-week low of $41.53 and a 52-week high of $66.69. The stock has a market capitalization of $84.35 billion, a P/E ratio of -13.45, a PEG ratio of 14.31 and a beta of 0.45.

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

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.77%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.