Independence Bank of Kentucky Has $526,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Independence Bank of Kentucky reduced its position in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,248 shares of the biopharmaceutical company’s stock after selling 1,432 shares during the period. Independence Bank of Kentucky’s holdings in Bristol-Myers Squibb were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Brown Shipley& Co Ltd lifted its position in shares of Bristol-Myers Squibb by 1.8% during the 2nd quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 164 shares in the last quarter. Riversedge Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 3.2% during the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 178 shares in the last quarter. Vicus Capital lifted its position in shares of Bristol-Myers Squibb by 3.9% during the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after buying an additional 179 shares in the last quarter. Front Row Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 17.5% during the 4th quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 182 shares in the last quarter. Finally, Cassia Capital Partners LLC lifted its position in shares of Bristol-Myers Squibb by 2.3% during the 3rd quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock worth $460,000 after buying an additional 182 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 0.5 %

NYSE:BMY opened at $52.75 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $71.07. The company has a market cap of $106.91 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.60 and a beta of 0.39. The company has a 50 day simple moving average of $51.08 and a two-hundred day simple moving average of $52.21.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 EPS. Research analysts forecast that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb declared that its board has authorized a share repurchase plan on Thursday, December 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $61.12.

View Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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