Principal Street Partners LLC Sells 13,807 Shares of Bristol-Myers Squibb (NYSE:BMY)

Principal Street Partners LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 10.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,215 shares of the biopharmaceutical company's stock after selling 13,807 shares during the period. Principal Street Partners LLC's holdings in Bristol-Myers Squibb were worth $6,116,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management raised its holdings in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 187 shares in the last quarter. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb during the 3rd quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $29,000. Finally, Valued Wealth Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd 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 and hedge funds.

Bristol-Myers Squibb Price Performance

BMY stock traded down $0.05 on Tuesday, hitting $58.73. 7,432,396 shares of the company's stock traded hands, compared to its average volume of 14,333,203. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock has a market cap of $119.11 billion, a price-to-earnings ratio of -16.36, a P/E/G ratio of 15.79 and a beta of 0.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The stock has a fifty day moving average of $53.83 and a 200-day moving average of $47.87.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company 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 earnings per share. Bristol-Myers Squibb's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -66.85%.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company's stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the company's stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, 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 company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on BMY. Jefferies Financial Group lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Cantor Fitzgerald reissued a "neutral" rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 12th. 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. Finally, Sanford C. Bernstein began coverage on 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 research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of "Hold" and a consensus price target 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.