Raleigh Capital Management Inc. Has $1.98 Million Stake in Bristol Myers Squibb Company (NYSE:BMY)

Raleigh Capital Management Inc. decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,458 shares of the biopharmaceutical company's stock after selling 6,981 shares during the period. Bristol Myers Squibb comprises about 0.9% of Raleigh Capital Management Inc.'s portfolio, making the stock its 27th largest holding. Raleigh Capital Management Inc.'s holdings in Bristol Myers Squibb were worth $1,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after purchasing an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in shares of Bristol Myers Squibb in the 4th quarter valued at about $13,094,000. Proficio Capital Partners LLC bought a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $240,000. Vestmark Advisory Solutions Inc. bought a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $421,000. Finally, Callan Family Office LLC grew its stake in shares of Bristol Myers Squibb by 152.8% in the 4th quarter. Callan Family Office LLC now owns 11,639 shares of the biopharmaceutical company's stock valued at $658,000 after buying an additional 7,035 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY traded up $0.46 during midday trading on Wednesday, reaching $47.50. 5,399,331 shares of the stock were exchanged, compared to its average volume of 12,831,117. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a twelve month low of $39.71 and a twelve month high of $63.33. The company has a market cap of $96.66 billion, a P/E ratio of 17.79, a PEG ratio of 1.38 and a beta of 0.36. The stock's 50 day simple moving average is $47.65 and its 200 day simple moving average is $53.46.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The firm had revenue of $11.20 billion for the quarter, compared to analysts' expectations of $10.77 billion. During the same quarter in the previous year, the business posted ($4.40) earnings per share. The business's revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the company's stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Finally, Jefferies Financial Group lowered their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $58.00.

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.