Bristol-Myers Squibb (NYSE:BMY) Stake Lowered by Spirit of America Management Corp NY

Spirit of America Management Corp NY lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 33.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the biopharmaceutical company’s stock after selling 2,500 shares during the quarter. Spirit of America Management Corp NY’s holdings in Bristol-Myers Squibb were worth $283,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter worth approximately $25,000. Hollencrest Capital Management boosted its position in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb during the third quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC lifted its holdings in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.93.

Bristol-Myers Squibb Trading Up 0.9 %

NYSE BMY opened at $59.66 on Thursday. The firm’s 50 day moving average price is $57.64 and its two-hundred day moving average price is $53.59. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The stock has a market cap of $121.01 billion, a price-to-earnings ratio of -16.62, a PEG ratio of 2.10 and a beta of 0.45.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. Bristol-Myers Squibb’s payout ratio is presently -69.08%.

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.