Cornercap Investment Counsel Inc. Sells 16,951 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cornercap Investment Counsel Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 29.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,513 shares of the biopharmaceutical company's stock after selling 16,951 shares during the period. Bristol-Myers Squibb comprises 0.6% of Cornercap Investment Counsel Inc.'s portfolio, making the stock its 9th biggest holding. Cornercap Investment Counsel Inc.'s holdings in Bristol-Myers Squibb were worth $2,148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter worth approximately $25,000. Hollencrest Capital Management lifted its holdings in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 187 shares in the last quarter. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb in the 3rd quarter worth approximately $28,000. Finally, Valued Wealth Advisors LLC lifted its holdings in Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 549 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samit Hirawat bought 1,830 shares of the firm's stock in a transaction on Friday, November 1st. The stock was bought at an average price 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 $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a "hold" rating for the company in a report on Tuesday, July 23rd. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a report on Wednesday. Barclays upped their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a report on Monday, October 7th. Finally, BMO Capital Markets upped their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $54.07.

Bristol-Myers Squibb Trading Down 3.9 %

NYSE:BMY traded down $2.28 on Friday, reaching $56.22. The company's stock had a trading volume of 20,905,694 shares, compared to its average volume of 14,461,413. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a market cap of $114.02 billion, a price-to-earnings ratio of -15.81, a price-to-earnings-growth ratio of 15.83 and a beta of 0.44. 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 $52.58 and a 200 day moving average price of $47.15.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.26 billion. During the same period in the prior year, the firm posted $2.00 EPS. The business's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -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.