New England Research & Management Inc. Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

New England Research & Management Inc. reduced its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 51.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,089 shares of the biopharmaceutical company's stock after selling 27,749 shares during the period. New England Research & Management Inc.'s holdings in Bristol-Myers Squibb were worth $1,476,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BMY. Reston Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $25,000. Hollencrest Capital Management grew its holdings in Bristol-Myers Squibb by 61.3% during the third 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. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC grew its stake 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 purchasing an additional 549 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Trading Down 0.3 %

NYSE:BMY traded down $0.16 on Thursday, hitting $58.90. The stock had a trading volume of 3,956,896 shares, compared to its average volume of 9,420,063. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10. 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 cap of $119.45 billion, a price-to-earnings ratio of -16.42, a PEG ratio of 2.02 and a beta of 0.45. The company has a fifty day moving average price of $57.59 and a two-hundred day moving average price of $53.02.

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 (EPS) for the quarter, beating 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 firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the firm earned $2.00 EPS. Bristol-Myers Squibb's revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. Bristol-Myers Squibb's dividend payout ratio (DPR) is -69.08%.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the company's stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company's stock, valued at approximately $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 insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BMY shares. Bank of America reiterated a "neutral" rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 13th. Leerink Partnrs raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently 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.