Peapack Gladstone Financial Corp Sells 70,311 Shares of Bristol-Myers Squibb (NYSE:BMY)

Peapack Gladstone Financial Corp decreased its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 12.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 493,031 shares of the biopharmaceutical company's stock after selling 70,311 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Bristol-Myers Squibb were worth $25,510,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Meridian Management Co. increased its position in Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company's stock worth $1,463,000 after acquiring an additional 182 shares during the period. Hollencrest Capital Management increased 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 worth $25,000 after purchasing an additional 187 shares during the period. Dunhill Financial LLC raised its position in shares of Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 189 shares in the last quarter. Mayflower Financial Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 2.3% in the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company's stock valued at $438,000 after buying an additional 192 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC grew its position in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company's stock worth $289,000 after buying an additional 206 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded down $0.50 during midday trading on Friday, hitting $55.78. 9,399,982 shares of the stock were exchanged, compared to its average volume of 14,042,860. The business's 50-day moving average price is $55.82 and its 200 day moving average price is $49.17. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 EPS. On average, analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. 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. This represents a $2.48 annualized dividend and a yield of 4.45%. Bristol-Myers Squibb's payout ratio is presently -66.85%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the company's stock in a transaction dated 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 purchase, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm'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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

BMY has been the subject of several analyst reports. Citigroup lifted their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a "peer perform" rating on the stock. Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a report on Wednesday, August 28th. Finally, Bank of America reissued a "neutral" rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of "Hold" and an average target price of $54.29.

Bristol-Myers Squibb 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.