Birmingham Capital Management Co. Inc. AL Purchases 2,800 Shares of Bristol-Myers Squibb (NYSE:BMY)

Birmingham Capital Management Co. Inc. AL raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,941 shares of the biopharmaceutical company’s stock after acquiring an additional 2,800 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Bristol-Myers Squibb were worth $2,480,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Inspire Trust Co. N.A. boosted its position in shares of Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after buying an additional 29,044 shares during the period. Synovus Financial Corp increased its holdings in Bristol-Myers Squibb by 0.3% during the third quarter. Synovus Financial Corp now owns 260,181 shares of the biopharmaceutical company’s stock valued at $13,462,000 after buying an additional 822 shares during the period. Optimist Retirement Group LLC bought a new position in Bristol-Myers Squibb in the third quarter worth approximately $2,258,000. Wilmington Savings Fund Society FSB boosted its position in Bristol-Myers Squibb by 85.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 159,681 shares of the biopharmaceutical company’s stock valued at $8,262,000 after acquiring an additional 73,383 shares in the last quarter. Finally, Arvest Bank Trust Division purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $1,724,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 1.0 %

BMY traded down $0.54 on Friday, reaching $55.74. The company’s stock had a trading volume of 1,621,751 shares, compared to its average volume of 14,009,264. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The stock has a 50 day moving average of $55.82 and a two-hundred day moving average of $49.17.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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. The company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.00 earnings per share. On average, research analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current 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 paid 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 dividend yield of 4.45%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BMY shares. Bank of America reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday. BMO Capital Markets upped their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. 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 given a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $54.29.

Insider Buying and Selling

In other news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was 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 in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 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.