Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 30.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,559 shares of the biopharmaceutical company's stock after selling 21,000 shares during the quarter. Cohen Klingenstein LLC's holdings in Bristol-Myers Squibb were worth $2,690,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Meridian Management Co. raised its stake in shares of Bristol-Myers Squibb by 0.6% in the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company's stock valued at $1,463,000 after acquiring an additional 182 shares during the period. Hollencrest Capital Management raised its position in Bristol-Myers Squibb by 61.3% in the third 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. Dunhill Financial LLC lifted its stake in Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 189 shares in the last quarter. Mayflower Financial Advisors LLC boosted its position 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. Finally, Lakewood Asset Management LLC grew its stake in shares of Bristol-Myers Squibb by 0.7% in the fourth quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company's stock valued at $1,520,000 after buying an additional 195 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of a number of research analyst reports. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a report on Monday, October 7th. UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. BMO Capital Markets raised their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a "market perform" rating in a research report on Tuesday, November 12th. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a "hold" 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 research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $56.27.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction 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. The trade was a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded down $0.03 during mid-day trading on Friday, hitting $56.35. The stock had a trading volume of 10,909,530 shares, compared to its average volume of 10,195,547. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company's 50-day simple moving average is $57.53 and its 200-day simple moving average is $52.00. The firm has a market cap of $114.30 billion, a PE ratio of -15.70, a PEG ratio of 1.95 and a beta of 0.45.

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

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.40%. 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%.

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.