Trilogy Capital Inc. Trims Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Trilogy Capital Inc. significantly reduced its stake in Bristol Myers Squibb by 77.7% during the 1st quarter, holding only 5,378 shares valued at $328,000.
• Despite mixed analyst ratings, Bristol Myers Squibb's stock has a consensus rating of "Hold" with an average price target of $58.53.
• The company announced a quarterly dividend of $0.62 per share, equating to an annualized dividend yield of 5.12%.

Trilogy Capital Inc. lessened its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 77.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,378 shares of the biopharmaceutical company's stock after selling 18,732 shares during the period. Trilogy Capital Inc.'s holdings in Bristol Myers Squibb were worth $328,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. purchased a new position in Bristol Myers Squibb in the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol Myers Squibb during the 4th quarter worth $26,000. Transce3nd LLC purchased a new stake in shares of Bristol Myers Squibb during the 4th quarter worth $28,000. Global Wealth Strategies & Associates lifted its position in shares of Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb during the 1st quarter worth $31,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

BMY traded down $0.35 on Wednesday, hitting $46.51. 2,689,481 shares of the company were exchanged, compared to its average volume of 13,220,267. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The business's fifty day moving average is $47.65 and its 200 day moving average is $52.49. Bristol Myers Squibb Company has a fifty-two week low of $44.00 and a fifty-two week high of $63.33. The firm has a market capitalization of $94.66 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 2.50 and a beta of 0.36.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.33%. Bristol Myers Squibb's payout ratio is currently 92.88%.

Analyst Ratings Changes

Several research firms have recently issued reports on BMY. Jefferies Financial Group decreased their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $58.53.

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.