Spire Wealth Management Sells 1,753 Shares of Bristol-Myers Squibb (NYSE:BMY)

Spire Wealth Management trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,409 shares of the biopharmaceutical company’s stock after selling 1,753 shares during the period. Spire Wealth Management’s holdings in Bristol-Myers Squibb were worth $872,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Bristol-Myers Squibb by 3.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 463,064 shares of the biopharmaceutical company’s stock worth $26,876,000 after purchasing an additional 13,562 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in Bristol-Myers Squibb by 2.1% during the 3rd quarter. Park Avenue Securities LLC now owns 50,800 shares of the biopharmaceutical company’s stock valued at $2,948,000 after buying an additional 1,063 shares in the last quarter. Gratus Capital LLC boosted its position in Bristol-Myers Squibb by 7.2% in the 3rd quarter. Gratus Capital LLC now owns 7,284 shares of the biopharmaceutical company’s stock valued at $423,000 after buying an additional 491 shares during the period. Smith Salley & Associates increased its position in shares of Bristol-Myers Squibb by 7.3% during the third quarter. Smith Salley & Associates now owns 13,466 shares of the biopharmaceutical company’s stock worth $782,000 after acquiring an additional 917 shares during the period. Finally, TIAA Trust National Association bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $8,023,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $43.67 on Thursday. The firm has a market capitalization of $88.52 billion, a price-to-earnings ratio of -14.09, a PEG ratio of 14.82 and a beta of 0.45. 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 stock’s 50-day simple moving average is $50.11 and its 200-day simple moving average is $50.48. Bristol-Myers Squibb has a fifty-two week low of $43.33 and a fifty-two week high of $69.10.

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

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.50%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BMY. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, BMO Capital Markets dropped their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.00.

About Bristol-Myers Squibb

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.