Associated Banc Corp Has $7.70 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Associated Banc Corp reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 148,784 shares of the biopharmaceutical company’s stock after selling 14,083 shares during the quarter. Associated Banc Corp’s holdings in Bristol-Myers Squibb were worth $7,698,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Federated Hermes Inc. raised its position in shares of Bristol-Myers Squibb by 86.3% in the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock valued at $313,398,000 after buying an additional 3,495,704 shares in the last quarter. Jennison Associates LLC raised its position in Bristol-Myers Squibb by 420.1% during the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock valued at $219,443,000 after purchasing an additional 3,425,789 shares in the last quarter. Swedbank AB bought a new stake in Bristol-Myers Squibb during the first quarter worth $158,223,000. State of Michigan Retirement System boosted its holdings in shares of Bristol-Myers Squibb by 147.7% in the 2nd quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company’s stock valued at $197,979,000 after purchasing an additional 2,842,400 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its holdings in shares of Bristol-Myers Squibb by 1,172.5% during the 2nd quarter. Mizuho Markets Americas LLC now owns 2,799,600 shares of the biopharmaceutical company’s stock worth $116,267,000 after buying an additional 2,579,600 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.3 %

Shares of BMY stock traded up $0.74 on Monday, reaching $59.61. 402,954 shares of the company were exchanged, compared to its average volume of 14,303,340. The company has a 50-day moving average of $53.66 and a 200-day moving average of $47.77. Bristol-Myers Squibb has a one year low of $39.35 and a one 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. The company has a market cap of $120.90 billion, a price-to-earnings ratio of -16.49, a PEG ratio of 15.79 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its 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 company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the company earned $2.00 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.03%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insiders Place Their Bets

In other 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, with a total value of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the 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 transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This 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.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. UBS Group raised their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets upped their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $54.07.

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.