Bristol-Myers Squibb (NYSE:BMY) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,469,665 shares of the biopharmaceutical company's stock after selling 129,324 shares during the period. PNC Financial Services Group Inc. owned about 0.22% of Bristol-Myers Squibb worth $231,260,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Meridian Management Co. grew its stake 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 purchasing an additional 182 shares in the last quarter. Hollencrest Capital Management grew its position in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 187 shares in the last quarter. Mayflower Financial Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 2.3% during the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company's stock worth $438,000 after buying an additional 192 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in shares of 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 buying an additional 206 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its holdings in Bristol-Myers Squibb by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company's stock valued at $532,000 after acquiring an additional 215 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Daiwa America raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 13th. Daiwa Capital Markets raised Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a "market perform" rating and a $56.00 price objective on the stock. Finally, Leerink Partnrs upgraded Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $54.07.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $1.41 during midday trading on Tuesday, reaching $58.21. 12,995,863 shares of the company were exchanged, compared to its average volume of 14,439,867. The stock has a market cap of $118.06 billion, a P/E ratio of -16.28, a PEG ratio of 15.08 and a beta of 0.44. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The stock has a fifty day simple moving average of $52.90 and a 200 day simple moving average of $47.37. 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 announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the business posted $2.00 EPS. The company's revenue was up 8.4% on a year-over-year basis. On average, research analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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

Bristol-Myers Squibb 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.