Wright Investors Service Inc. Has $5.07 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Wright Investors Service Inc. decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 25.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,613 shares of the biopharmaceutical company's stock after selling 30,168 shares during the quarter. Bristol-Myers Squibb makes up approximately 1.6% of Wright Investors Service Inc.'s holdings, making the stock its 16th largest holding. Wright Investors Service Inc.'s holdings in Bristol-Myers Squibb were worth $5,069,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BMY. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter valued at $25,000. Hollencrest Capital Management lifted its position in Bristol-Myers Squibb by 61.3% during 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 during the period. Kennebec Savings Bank bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $28,000. Darwin Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company's stock worth $31,000 after buying an additional 549 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of Bristol-Myers Squibb stock traded up $0.37 during trading on Tuesday, reaching $55.73. The stock had a trading volume of 7,408,887 shares, compared to its average volume of 9,388,552. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $113.03 billion, a price-to-earnings ratio of -15.52, a P/E/G ratio of 15.20 and a beta of 0.45. The stock has a fifty day moving average price of $57.44 and a two-hundred day moving average price of $51.66. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 EPS. Sell-side analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a $0.62 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.45%. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. Bristol-Myers Squibb's dividend payout ratio (DPR) is -69.08%.

Analysts Set New Price Targets

BMY has been the subject of a number of analyst reports. Leerink Partnrs raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 12th. Barclays upped their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a report on Monday, October 7th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a "market perform" rating and a $56.00 price target for the company. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $56.27.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost 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 in the company, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company's stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

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.