Toronto Dominion Bank Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Toronto Dominion Bank lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 23.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 835,084 shares of the biopharmaceutical company's stock after selling 250,023 shares during the quarter. Toronto Dominion Bank's holdings in Bristol-Myers Squibb were worth $43,207,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company's stock valued at $289,000 after acquiring an additional 206 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company's stock valued at $2,305,000 after purchasing an additional 11,387 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in Bristol-Myers Squibb by 81.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company's stock worth $3,972,000 after purchasing an additional 34,418 shares during the period. Bellevue Group AG acquired a new position in Bristol-Myers Squibb in the third quarter valued at $1,905,000. Finally, Nwam LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at about $927,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. BMO Capital Markets raised their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a report on Tuesday, November 12th. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Morgan Stanley upped their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a research note on Tuesday, November 12th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, UBS Group upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $54.29.

Bristol-Myers Squibb Price Performance

NYSE BMY traded down $0.37 during mid-day trading on Thursday, hitting $56.28. The stock had a trading volume of 12,118,689 shares, compared to its average volume of 14,062,190. The company has a 50 day simple moving average of $55.78 and a 200 day simple moving average of $49.12. The company has a market cap of $114.15 billion, a price-to-earnings ratio of -15.78, a P/E/G ratio of 15.93 and a beta of 0.45. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. 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 (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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.26 billion. During the same quarter last year, the business posted $2.00 earnings per share. The business's revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm 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 $0.62 dividend. The ex-dividend date is Friday, January 3rd. 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 is currently -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $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 SEC, which is available at the SEC website. 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 transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

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.