Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 13.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,350 shares of the biopharmaceutical company's stock after selling 19,338 shares during the quarter. Tidal Investments LLC's holdings in Bristol-Myers Squibb were worth $6,486,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FMR LLC raised its position in Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company's stock valued at $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Federated Hermes Inc. grew its stake in shares of Bristol-Myers Squibb by 86.3% in the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company's stock valued at $313,398,000 after buying an additional 3,495,704 shares in the last quarter. Jennison Associates LLC lifted its stake in Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company's stock worth $219,443,000 after acquiring an additional 3,425,789 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Bristol-Myers Squibb by 695.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company's stock valued at $183,971,000 after acquiring an additional 3,107,672 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company's stock valued at $986,931,000 after acquiring an additional 3,002,418 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Down 0.9 %

Shares of NYSE:BMY traded down $0.50 during trading on Friday, hitting $55.78. 9,406,135 shares of the company were exchanged, compared to its average volume of 14,042,877. The firm's 50 day moving average price is $55.86 and its 200-day moving average price is $49.27. 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 current ratio of 1.24 and a quick ratio of 1.09. The stock has a market capitalization of $113.13 billion, a P/E ratio of -15.54, a PEG ratio of 15.20 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.00 earnings per share. On average, research analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share 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. Shareholders 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. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.45%. Bristol-Myers Squibb's payout ratio is -66.85%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BMY. Sanford C. Bernstein assumed 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 target on the stock. Morgan Stanley increased their target price 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. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 13th. UBS Group increased their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Finally, Bank of America reiterated a "neutral" rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $54.29.

Insider Activity

In related news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the company's 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 sale, the senior vice president now directly owns 11,760 shares of the company's stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

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.