Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 25.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,947 shares of the biopharmaceutical company's stock after selling 37,110 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in Bristol-Myers Squibb were worth $5,605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meridian Management Co. grew its stake in shares of Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company's stock worth $1,463,000 after purchasing an additional 182 shares during the period. Hollencrest Capital Management increased 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 buying an additional 187 shares in the last quarter. Dunhill Financial LLC boosted its stake in shares of Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 189 shares in the last quarter. Mayflower Financial Advisors LLC grew its position in shares of Bristol-Myers Squibb by 2.3% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company's stock valued at $438,000 after acquiring an additional 192 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company's stock valued at $289,000 after purchasing an additional 206 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Down 0.7 %

NYSE:BMY traded down $0.37 on Thursday, reaching $56.28. The company's stock had a trading volume of 12,048,844 shares, compared to its average volume of 14,061,903. The firm has a market cap of $114.15 billion, a price-to-earnings ratio of -15.78, a price-to-earnings-growth ratio of 15.93 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. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The stock has a 50 day moving average price of $55.78 and a 200 day moving average price of $49.12.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $11.89 billion for the quarter, compared to analysts' expectations of $11.26 billion. During the same quarter in the prior year, the company posted $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, equities analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.41%. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -66.85%.

Insider Activity at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction 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 in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction on 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 transaction, the executive vice president now directly owns 62,109 shares in the company, 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. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on BMY shares. Daiwa Capital Markets raised Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 13th. Bank of America reissued a "neutral" rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday. Jefferies Financial Group increased their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Cantor Fitzgerald restated a "neutral" rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Leerink Partners upgraded Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $54.29.

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.