Lmcg Investments LLC Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Lmcg Investments LLC decreased its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 93.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,841 shares of the biopharmaceutical company's stock after selling 118,251 shares during the quarter. Lmcg Investments LLC's holdings in Bristol-Myers Squibb were worth $402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Community Bank & Trust Waco Texas acquired a new position in Bristol-Myers Squibb during the third quarter worth about $168,000. Triumph Capital Management grew its position in Bristol-Myers Squibb by 39.4% during the 3rd quarter. Triumph Capital Management now owns 5,182 shares of the biopharmaceutical company's stock worth $301,000 after purchasing an additional 1,464 shares in the last quarter. Tower View Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 7.3% in the third quarter. Tower View Wealth Management LLC now owns 3,143 shares of the biopharmaceutical company's stock valued at $182,000 after purchasing an additional 215 shares in the last quarter. Allworth Financial LP boosted its position in shares of Bristol-Myers Squibb by 5.5% in the third quarter. Allworth Financial LP now owns 34,127 shares of the biopharmaceutical company's stock worth $1,981,000 after buying an additional 1,765 shares during the period. Finally, Tilson Financial Group Inc. purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at $350,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded down $0.16 during trading hours on Wednesday, hitting $44.55. 14,177,047 shares of the company's stock were exchanged, compared to its average volume of 15,545,965. Bristol-Myers Squibb has a 1-year low of $43.33 and a 1-year high of $68.14. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The stock has a market capitalization of $90.31 billion, a price-to-earnings ratio of -14.45, a PEG ratio of 15.23 and a beta of 0.45. The company's 50-day moving average price is $49.46 and its 200-day moving average price is $50.13.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data 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. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business had revenue of $11.87 billion during the quarter, compared to analysts' expectations of $11.45 billion. During the same quarter in the previous year, the firm earned $2.05 EPS. 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 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 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 yield of 5.39%. Bristol-Myers Squibb's dividend payout ratio (DPR) is -77.42%.

Analyst Upgrades and Downgrades

BMY has been the topic of several research analyst reports. Redburn Atlantic cut Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and lowered their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Wells Fargo & Company increased their target price on shares of 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. BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a "market perform" rating on the stock in a report on Friday, April 26th. StockNews.com lowered Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Monday, April 15th. Finally, William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. 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. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $60.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.