Wellington Management Group LLP Sells 16,518 Shares of Bristol-Myers Squibb (NYSE:BMY)

Wellington Management Group LLP decreased its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 9.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 150,188 shares of the biopharmaceutical company's stock after selling 16,518 shares during the quarter. Wellington Management Group LLP's holdings in Bristol-Myers Squibb were worth $7,771,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lantz Financial LLC grew its holdings in Bristol-Myers Squibb by 17.4% during the 2nd quarter. Lantz Financial LLC now owns 11,799 shares of the biopharmaceutical company's stock worth $490,000 after acquiring an additional 1,747 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Bristol-Myers Squibb by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 509,789 shares of the biopharmaceutical company's stock worth $21,172,000 after purchasing an additional 18,806 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Bristol-Myers Squibb by 21.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 664,061 shares of the biopharmaceutical company's stock valued at $27,578,000 after buying an additional 117,813 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Bristol-Myers Squibb by 1.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 103,773 shares of the biopharmaceutical company's stock worth $4,310,000 after buying an additional 1,632 shares during the last quarter. Finally, Dakota Wealth Management raised its stake in shares of Bristol-Myers Squibb by 21.0% during the 2nd quarter. Dakota Wealth Management now owns 56,165 shares of the biopharmaceutical company's stock worth $2,333,000 after acquiring an additional 9,748 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BMY shares. UBS Group upped their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Morgan Stanley increased their price target 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. Barclays increased their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Bank of America reaffirmed a "neutral" rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of "Hold" and a consensus target price of $55.64.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $0.08 during midday trading on Monday, reaching $55.86. 16,462,347 shares of the company traded hands, compared to its average volume of 14,050,450. The firm's 50 day simple moving average is $55.90 and its two-hundred day simple moving average is $49.51. The firm has a market cap of $113.29 billion, a PE ratio of -15.56, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year 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.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $11.89 billion for the quarter, compared to analysts' expectations of $11.26 billion. During the same period last year, the company earned $2.00 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts expect 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 issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.44%. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb's payout ratio is -69.08%.

Insider Activity

In other news, EVP Samit Hirawat bought 1,830 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value 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. This represents a 3.04 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the business's stock in a transaction dated Monday, November 4th. The stock was 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 in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.