InvesTrust Takes $6.47 Million Position in Bristol-Myers Squibb (NYSE:BMY)

InvesTrust acquired a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 114,649 shares of the biopharmaceutical company’s stock, valued at approximately $6,466,000. Bristol-Myers Squibb comprises about 1.8% of InvesTrust’s investment portfolio, making the stock its 24th biggest holding.

A number of other institutional investors also recently bought and sold shares of the company. Reston Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $25,000. Hollencrest Capital Management raised its position in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb in the third quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at $29,000. Finally, Valued Wealth Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on BMY. Citigroup boosted their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Finally, Barclays increased their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $56.27.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, 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 document filed with the SEC, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company’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 transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Trading Down 0.9 %

Shares of NYSE:BMY traded down $0.49 during trading on Wednesday, hitting $56.65. The company had a trading volume of 6,055,878 shares, compared to its average volume of 8,962,421. The stock has a market cap of $114.90 billion, a price-to-earnings ratio of -15.78, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45. 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 company has a fifty day simple moving average of $57.31 and a two-hundred day simple moving average of $51.26. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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 business had revenue of $11.89 billion for 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%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 earnings per share. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current 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 issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.38%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

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.