Bristol-Myers Squibb (NYSE:BMY) Stake Lessened by BigSur Wealth Management LLC

BigSur Wealth Management LLC decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 55.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,900 shares of the biopharmaceutical company’s stock after selling 29,730 shares during the quarter. BigSur Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,352,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Seven Eight Capital LP acquired a new stake in Bristol-Myers Squibb during the second quarter valued at $392,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Bristol-Myers Squibb by 6.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 94,911 shares of the biopharmaceutical company’s stock valued at $3,941,000 after buying an additional 5,382 shares during the last quarter. Bridges Investment Management Inc. grew its stake in shares of Bristol-Myers Squibb by 15.6% in the 2nd quarter. Bridges Investment Management Inc. now owns 14,600 shares of the biopharmaceutical company’s stock valued at $606,000 after buying an additional 1,971 shares in the last quarter. AE Wealth Management LLC raised its position in Bristol-Myers Squibb by 17.2% during the second quarter. AE Wealth Management LLC now owns 108,803 shares of the biopharmaceutical company’s stock valued at $4,519,000 after acquiring an additional 15,934 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in Bristol-Myers Squibb by 0.6% in the second quarter. Ameritas Investment Partners Inc. now owns 55,336 shares of the biopharmaceutical company’s stock worth $2,298,000 after acquiring an additional 338 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $56.35 on Monday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a market cap of $114.30 billion, a P/E ratio of -15.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45. The firm’s 50-day simple moving average is $57.53 and its 200-day simple moving average is $52.00.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating 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 company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 EPS. As a group, research analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.40%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Wall Street Analyst Weigh In

BMY has been the subject of a number of recent research reports. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Barclays lifted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.27.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction dated 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 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 disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

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.