BigSur Wealth Management LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 55.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,900 shares of the biopharmaceutical company's stock after selling 29,730 shares during the period. BigSur Wealth Management LLC's holdings in Bristol-Myers Squibb were worth $1,352,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Bristol-Myers Squibb by 1.6% during the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company's stock worth $4,806,469,000 after buying an additional 1,451,214 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company's stock worth $3,157,713,000 after acquiring an additional 1,968,729 shares during the period. FMR LLC grew its stake in shares of Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company's stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Bristol-Myers Squibb by 2.5% during the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company's stock valued at $2,228,425,000 after purchasing an additional 1,036,495 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Bristol-Myers Squibb by 3.8% during 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 purchasing an additional 735,613 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on BMY. Daiwa America upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 13th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and increased their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Wolfe Research initiated coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They set a "peer perform" rating on the stock. UBS Group boosted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of "Hold" and an average target price of $56.27.
Check Out Our Latest Research Report on Bristol-Myers Squibb
Insider Buying and Selling at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.
Bristol-Myers Squibb Trading Down 0.0 %
Bristol-Myers Squibb stock traded down $0.03 during midday trading on Monday, reaching $56.35. The stock had a trading volume of 10,909,530 shares, compared to its average volume of 10,195,547. The firm's fifty day simple moving average is $57.53 and its two-hundred day simple moving average is $52.09. The firm has a market cap of $114.30 billion, a price-to-earnings ratio of -15.70, a PEG ratio of 1.95 and a beta of 0.45. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.
Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate 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 firm'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 EPS. Equities analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.
Bristol-Myers Squibb Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.40%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -69.08%.
About Bristol-Myers Squibb
(
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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