Aviance Capital Partners LLC Trims Position in Bristol-Myers Squibb (NYSE:BMY)

Aviance Capital Partners LLC cut its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 63.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,413 shares of the biopharmaceutical company's stock after selling 59,719 shares during the quarter. Aviance Capital Partners LLC's holdings in Bristol-Myers Squibb were worth $1,781,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BMY. Meridian Management Co. lifted its position in Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company's stock worth $1,463,000 after acquiring an additional 182 shares during the period. Hollencrest Capital Management increased its holdings in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Mayflower Financial Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 2.3% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company's stock valued at $438,000 after acquiring an additional 192 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company's stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its position in shares of Bristol-Myers Squibb by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company's stock worth $532,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,830 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company's stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded up $1.41 during trading on Tuesday, hitting $58.21. 12,995,863 shares of the company were exchanged, compared to its average volume of 14,439,867. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $118.06 billion, a P/E ratio of -16.28, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44. The business's 50 day moving average is $52.90 and its 200-day moving average is $47.37.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb's payout ratio is -66.85%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Barclays lifted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a report on Monday, October 7th. UBS Group boosted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $54.07.

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.