Forsta AP Fonden Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Forsta AP Fonden reduced its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 638,000 shares of the biopharmaceutical company's stock after selling 11,800 shares during the period. Forsta AP Fonden's holdings in Bristol-Myers Squibb were worth $36,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Hollencrest Capital Management raised its position in 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 purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new position in Bristol-Myers Squibb during the third quarter valued at approximately $28,000. Darwin Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the third quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC raised its position 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 valued at $31,000 after purchasing an additional 549 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the company'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 value of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company's stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company's stock, 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. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Trading Up 0.6 %

BMY traded up $0.35 during midday trading on Wednesday, hitting $59.11. 6,780,065 shares of the company were exchanged, compared to its average volume of 9,731,652. The firm has a market capitalization of $119.88 billion, a P/E ratio of -16.46, a P/E/G ratio of 2.02 and a beta of 0.45. 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's 50 day moving average price is $57.56 and its 200-day moving average price is $52.97. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10.

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 analysts' consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate 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 was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.20%. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb's payout ratio is currently -69.08%.

Analyst Upgrades and Downgrades

Several research analysts have commented on BMY shares. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a "market perform" rating and a $56.00 price objective for the company. Barclays boosted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. Cantor Fitzgerald restated a "neutral" rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Morgan Stanley upped their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. Finally, BMO Capital Markets raised their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a "market perform" rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of "Hold" and a consensus target price of $56.60.

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.