Eagle Rock Investment Company LLC Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Eagle Rock Investment Company LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 52.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,824 shares of the biopharmaceutical company's stock after selling 23,364 shares during the period. Eagle Rock Investment Company LLC's holdings in Bristol-Myers Squibb were worth $1,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Inspire Trust Co. N.A. grew its holdings in shares of Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock worth $5,355,000 after buying an additional 29,044 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company's stock valued at $289,000 after purchasing an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company's stock valued at $2,305,000 after purchasing an additional 11,387 shares during the last quarter. iA Global Asset Management Inc. raised its stake in shares of Bristol-Myers Squibb by 81.3% during the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company's stock worth $3,972,000 after purchasing an additional 34,418 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $488,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded down $0.03 during trading on Friday, hitting $56.35. 10,909,530 shares of the company were exchanged, compared to its average volume of 9,412,556. The firm has a 50 day moving average price of $57.48 and a 200 day moving average price of $51.82. The stock has a market capitalization of $114.30 billion, a price-to-earnings ratio of -15.70, a P/E/G ratio of 1.95 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. The business 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 business's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.00 earnings per share. On average, equities analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal 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 dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.40%. Bristol-Myers Squibb's payout ratio is -69.08%.

Insider Activity at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the company's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, 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 purchased 1,830 shares of the firm's stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now 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. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. Citigroup raised their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Wolfe Research began coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a "peer perform" rating on the stock. Barclays increased their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Finally, Daiwa America raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $56.27.

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.