Corundum Group Inc. Purchases 17,596 Shares of Bristol-Myers Squibb (NYSE:BMY)

Corundum Group Inc. raised its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 67.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,534 shares of the biopharmaceutical company's stock after buying an additional 17,596 shares during the quarter. Bristol-Myers Squibb accounts for 0.9% of Corundum Group Inc.'s investment portfolio, making the stock its 28th largest holding. Corundum Group Inc.'s holdings in Bristol-Myers Squibb were worth $2,462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. Reston Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management lifted 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 worth $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $29,000. Finally, Valued Wealth Advisors LLC lifted its stake in shares of 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 valued at $31,000 after buying an additional 549 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BMY shares. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a "hold" rating in a report on Monday, October 7th. Daiwa America raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 13th. Morgan Stanley increased their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an "underweight" rating in a report on Tuesday, November 12th. UBS Group increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Finally, Bank of America restated a "neutral" rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of "Hold" and an average target price of $56.27.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company's stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samit Hirawat acquired 1,830 shares of the business's stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company's stock, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded down $0.03 during trading on Monday, reaching $56.35. 10,909,530 shares of the company's stock traded hands, compared to its average volume of 10,195,547. The firm's 50-day moving average is $57.53 and its 200 day moving average is $52.09. The company has a market capitalization of $114.30 billion, a P/E ratio of -15.70, a PEG ratio of 1.95 and a beta of 0.45. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during 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 business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.00 earnings per share. Equities research analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.40%. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio is presently -69.08%.

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.