Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Hedges Asset Management LLC

Hedges Asset Management LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,600 shares of the biopharmaceutical company’s stock after selling 500 shares during the period. Bristol-Myers Squibb comprises 1.4% of Hedges Asset Management LLC’s investment portfolio, making the stock its 21st biggest position. Hedges Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter worth approximately $25,000. Hollencrest Capital Management lifted its position in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb in the third quarter valued at $28,000. Darwin Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the third quarter valued at $29,000. Finally, Valued Wealth Advisors LLC lifted its holdings in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of 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. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BMY has been the topic of several research analyst reports. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the company from $63.00 to $70.00 in a report on Monday, December 16th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Finally, Citigroup upped their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $59.15 on Friday. The stock has a market capitalization of $119.97 billion, a P/E ratio of -16.48, a P/E/G ratio of 2.02 and a beta of 0.45. 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 1 year low of $39.35 and a 1 year high of $61.08. The company’s fifty day moving average is $57.39 and its two-hundred day moving average is $52.36.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the company posted $2.00 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.92 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. Investors of record on Friday, January 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase 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 4.19%. Bristol-Myers Squibb’s payout ratio is -69.08%.

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.