Brookstone Capital Management Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Brookstone Capital Management lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 186,155 shares of the biopharmaceutical company's stock after purchasing an additional 18,516 shares during the period. Brookstone Capital Management's holdings in Bristol-Myers Squibb were worth $10,529,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thoroughbred Financial Services LLC grew its stake in shares of Bristol-Myers Squibb by 9.5% in the second quarter. Thoroughbred Financial Services LLC now owns 10,353 shares of the biopharmaceutical company's stock worth $430,000 after purchasing an additional 901 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Bristol-Myers Squibb by 1.6% in the second quarter. Envestnet Asset Management Inc. now owns 2,268,887 shares of the biopharmaceutical company's stock valued at $94,227,000 after buying an additional 34,643 shares during the period. Bcwm LLC bought a new position in shares of Bristol-Myers Squibb during the second quarter worth about $4,720,000. Keene & Associates Inc. raised its position in shares of Bristol-Myers Squibb by 2.1% during the second quarter. Keene & Associates Inc. now owns 60,313 shares of the biopharmaceutical company's stock worth $2,505,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $7,721,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Up 0.7 %

BMY traded up $0.37 during mid-day trading on Tuesday, reaching $55.73. 7,408,887 shares of the stock were exchanged, compared to its average volume of 9,388,552. The company has a 50 day moving average price of $57.44 and a two-hundred day moving average price of $51.66. The stock has a market capitalization of $113.03 billion, a PE ratio of -15.52, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year 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, topping analysts' consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the firm posted $2.00 EPS. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders 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 annualized dividend and a yield of 4.45%. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. Bristol-Myers Squibb's payout ratio is currently -69.08%.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of the business'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 directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were acquired 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. This represents 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

BMY has been the subject of several analyst reports. Bank of America restated a "neutral" rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a "market perform" rating and a $56.00 target price on the stock. Wolfe Research assumed coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They set a "peer perform" rating for the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Citigroup raised their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Two equities research 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 has an average rating of "Hold" and an average price target 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.