Goelzer Investment Management Inc. Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Goelzer Investment Management Inc. trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.5% in the fourth quarter, HoldingsChannel reports. The firm owned 126,307 shares of the biopharmaceutical company’s stock after selling 4,529 shares during the period. Goelzer Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $7,144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CX Institutional boosted its stake in shares of Bristol-Myers Squibb by 2.5% during the 4th quarter. CX Institutional now owns 135,290 shares of the biopharmaceutical company’s stock worth $7,652,000 after purchasing an additional 3,255 shares during the last quarter. Sound Income Strategies LLC grew its stake in Bristol-Myers Squibb by 117.1% in the 4th quarter. Sound Income Strategies LLC now owns 6,014 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 3,244 shares during the period. Silver Lake Advisory LLC raised its holdings in Bristol-Myers Squibb by 1.0% in the 4th quarter. Silver Lake Advisory LLC now owns 29,953 shares of the biopharmaceutical company’s stock valued at $1,694,000 after acquiring an additional 282 shares during the last quarter. MFA Wealth Services purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $360,000. Finally, Cornerstone Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 21.0% during the fourth quarter. Cornerstone Wealth Management LLC now owns 25,874 shares of the biopharmaceutical company’s stock worth $1,463,000 after purchasing an additional 4,496 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. UBS Group lifted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Morgan Stanley boosted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, 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. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.27.

Insider Buying and Selling

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the 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 sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 purchased at an average cost 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 of the company’s stock, 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 company insiders.

Bristol-Myers Squibb Trading Up 0.9 %

BMY opened at $59.68 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month 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 stock has a market capitalization of $121.05 billion, a PE ratio of -16.63, a P/E/G ratio of 2.02 and a beta of 0.45. The firm’s fifty day moving average price is $57.40 and its 200 day moving average price is $52.41.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate 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 company’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. As a group, research analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently -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.