Commerce Bank Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Commerce Bank cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 318,512 shares of the biopharmaceutical company's stock after selling 30,241 shares during the period. Commerce Bank's holdings in Bristol-Myers Squibb were worth $16,480,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BMY. Reston Wealth Management LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management grew its holdings in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank acquired a new position in Bristol-Myers Squibb in the third quarter valued at approximately $28,000. Valued Wealth Advisors LLC grew its position in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd 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 period. Finally, LGT Financial Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 227 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, 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 $654,091.20. This represents a 5.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction dated Friday, November 1st. The shares were 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 owns 62,109 shares of the company's stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BMY shares. Leerink Partnrs raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. UBS Group boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 13th. Leerink Partners raised shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a "market perform" rating and a $56.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $57.88 on Thursday. 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 has a 12-month low of $39.35 and a 12-month high of $61.08. The stock has a 50-day moving average price of $53.26 and a 200-day moving average price of $47.54.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted 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. The firm had revenue of $11.89 billion during 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 company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.00 EPS. Equities analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio is currently -66.85%.

Bristol-Myers Squibb Company 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.