Cypress Capital Group Sells 24,205 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cypress Capital Group trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 24.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,876 shares of the biopharmaceutical company's stock after selling 24,205 shares during the period. Cypress Capital Group's holdings in Bristol-Myers Squibb were worth $3,874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BMY. Bessemer Group Inc. increased its holdings in Bristol-Myers Squibb by 16.3% during the 1st quarter. Bessemer Group Inc. now owns 159,066 shares of the biopharmaceutical company's stock valued at $8,625,000 after purchasing an additional 22,286 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of Bristol-Myers Squibb by 60.1% during the first quarter. CreativeOne Wealth LLC now owns 28,536 shares of the biopharmaceutical company's stock valued at $1,548,000 after acquiring an additional 10,709 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in Bristol-Myers Squibb by 22.3% in the first quarter. Axxcess Wealth Management LLC now owns 73,554 shares of the biopharmaceutical company's stock worth $3,989,000 after acquiring an additional 13,414 shares during the period. Advisors Asset Management Inc. increased its position in Bristol-Myers Squibb by 46.4% during the 1st quarter. Advisors Asset Management Inc. now owns 134,138 shares of the biopharmaceutical company's stock valued at $7,274,000 after purchasing an additional 42,509 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in Bristol-Myers Squibb by 2.4% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 33,954 shares of the biopharmaceutical company's stock worth $1,841,000 after purchasing an additional 808 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $57.88 on Thursday. The stock has a market capitalization of $117.39 billion, a price-to-earnings ratio of -16.12, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44. 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 business has a 50-day moving average of $53.26 and a 200 day moving average of $47.54. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08.

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 (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $11.26 billion. During the same period last year, the firm earned $2.00 earnings per share. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on BMY. StockNews.com raised Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a research report on Monday, July 29th. Wolfe Research assumed coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a "peer perform" rating for the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Leerink Partners raised shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a "market perform" rating and a $56.00 target price for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $54.07.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company's stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the business's stock in a transaction that occurred on Monday, November 4th. The shares were 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 approximately $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

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.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb (NYSE:BMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.