Advisors Asset Management Inc. Boosts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Advisors Asset Management Inc. boosted its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 30.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,439 shares of the biopharmaceutical company's stock after acquiring an additional 49,137 shares during the quarter. Advisors Asset Management Inc.'s holdings in Bristol-Myers Squibb were worth $10,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors grew its position in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company's stock valued at $3,807,153,000 after acquiring an additional 8,675,322 shares in the last quarter. Primecap Management Co. CA boosted its stake in Bristol-Myers Squibb by 1.0% in the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company's stock valued at $975,897,000 after acquiring an additional 225,197 shares during the period. Legal & General Group Plc lifted its stake in Bristol-Myers Squibb by 3.8% in the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company's stock valued at $839,946,000 after buying an additional 735,613 shares during the last quarter. Independent Franchise Partners LLP raised its holdings in shares of Bristol-Myers Squibb by 4.0% during the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company's stock valued at $606,364,000 after buying an additional 556,295 shares during the last quarter. Finally, Pzena Investment Management LLC increased its position in Bristol-Myers Squibb by 15.0% in the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company's stock valued at $586,999,000 after acquiring an additional 1,840,424 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Down 0.6 %

BMY traded down $0.35 during midday trading on Wednesday, reaching $57.88. 11,236,177 shares of the company were exchanged, compared to its average volume of 14,426,227. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The company's fifty day moving average price is $53.08 and its 200 day moving average price is $47.47. The company has a market cap of $117.39 billion, a price-to-earnings ratio of -16.21, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the business earned $2.00 EPS. The company's revenue was up 8.4% compared to the same quarter last year. As a group, analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.15%. Bristol-Myers Squibb's payout ratio is -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company's stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company's stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

BMY has been the subject of a number of analyst reports. Wolfe Research initiated coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a "peer perform" rating for the company. Citigroup increased their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a "market perform" rating and a $56.00 price objective for the company. Morgan Stanley raised their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a research note on Tuesday, November 12th. Finally, Leerink Partners raised Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $54.07.

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.