Range Financial Group LLC Raises Position in Bristol-Myers Squibb (NYSE:BMY)

Range Financial Group LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 763.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 49,195 shares of the biopharmaceutical company’s stock after purchasing an additional 43,495 shares during the quarter. Bristol-Myers Squibb comprises approximately 1.3% of Range Financial Group LLC’s portfolio, making the stock its 14th biggest position. Range Financial Group LLC’s holdings in Bristol-Myers Squibb were worth $2,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp raised its stake in Bristol-Myers Squibb by 1.6% in the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after acquiring an additional 1,451,214 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Bristol-Myers Squibb by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after acquiring an additional 1,968,729 shares during the last quarter. FMR LLC raised its stake in Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after acquiring an additional 4,275,787 shares during the last quarter. Geode Capital Management LLC raised its stake in Bristol-Myers Squibb by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after acquiring an additional 1,036,495 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in Bristol-Myers Squibb by 1.0% in the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after acquiring an additional 225,197 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were purchased 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 owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded up $0.54 during midday trading on Tuesday, reaching $57.22. The company had a trading volume of 10,215,634 shares, compared to its average volume of 9,574,829. 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 firm’s fifty day simple moving average is $57.22 and its 200-day simple moving average is $51.15. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a market capitalization of $116.05 billion, a P/E ratio of -15.94, a P/E/G ratio of 15.20 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping 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 business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period last year, the company posted $2.00 EPS. The business’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.33%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group raised 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. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Bank of America reaffirmed a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup increased their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.64.

Bristol-Myers Squibb 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.