First Horizon Advisors Inc. Boosts Holdings in Bristol-Myers Squibb (NYSE:BMY)

First Horizon Advisors Inc. raised its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 281.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 395,386 shares of the biopharmaceutical company's stock after purchasing an additional 291,613 shares during the quarter. First Horizon Advisors Inc.'s holdings in Bristol-Myers Squibb were worth $20,457,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Reston Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth $25,000. Hollencrest Capital Management raised its holdings in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 187 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $28,000. Valued Wealth Advisors LLC raised its holdings in Bristol-Myers Squibb by 1,168.1% during the third 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. Finally, ORG Wealth Partners LLC bought a new stake in Bristol-Myers Squibb during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded down $0.35 during mid-day trading on Wednesday, reaching $57.88. 11,236,177 shares of the company were exchanged, compared to its average volume of 14,426,227. The company's 50-day simple moving average is $53.08 and its 200-day simple moving average is $47.47. 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 stock has a market capitalization of $117.39 billion, a P/E ratio of -16.21, a P/E/G ratio of 15.08 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month 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 for the quarter, topping the consensus estimate 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 analysts' expectations of $11.26 billion. During the same quarter in the previous year, the company earned $2.00 EPS. The business's revenue was up 8.4% on a year-over-year basis. As a group, research analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors 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 yield of 4.15%. Bristol-Myers Squibb's dividend payout ratio is presently -66.85%.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company's stock, valued at $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 owned by corporate insiders.

Analyst Upgrades and Downgrades

BMY has been the topic of several research analyst reports. BMO Capital Markets lifted their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 12th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 12th. Daiwa America raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 13th. Barclays upped their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a "market perform" rating and a $56.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of "Hold" and an average target price of $54.07.

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.