Heritage Wealth Management Inc. Sells 725 Shares of Bristol-Myers Squibb (NYSE:BMY)

Heritage Wealth Management Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,583 shares of the biopharmaceutical company’s stock after selling 725 shares during the period. Heritage Wealth Management Inc.’s holdings in Bristol-Myers Squibb were worth $444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Csenge Advisory Group lifted its position in Bristol-Myers Squibb by 12.0% during the first quarter. Csenge Advisory Group now owns 9,484 shares of the biopharmaceutical company’s stock valued at $514,000 after purchasing an additional 1,018 shares during the last quarter. CFO4Life Group LLC purchased a new stake in Bristol-Myers Squibb in the first quarter worth $233,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Bristol-Myers Squibb by 35.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 187,968 shares of the biopharmaceutical company’s stock worth $10,194,000 after purchasing an additional 49,342 shares during the last quarter. Hilltop National Bank bought a new position in shares of Bristol-Myers Squibb in the first quarter worth about $436,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Bristol-Myers Squibb by 4.7% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,492 shares of the biopharmaceutical company’s stock worth $786,000 after buying an additional 654 shares during the period. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In related news, EVP Samit Hirawat purchased 1,830 shares of the business’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 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 0.00 % 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

Several equities research analysts have issued reports on the stock. UBS Group boosted their price objective 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. Deutsche Bank Aktiengesellschaft lowered their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. 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. BMO Capital Markets increased their price target on Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Finally, Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $75.00 to $55.00 in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $53.00.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded down $0.49 on Friday, reaching $54.22. 302,516 shares of the company’s stock traded hands, compared to its average volume of 14,354,405. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.80. 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 $109.97 billion, a price-to-earnings ratio of -15.25, a P/E/G ratio of 12.39 and a beta of 0.44. The stock has a 50 day moving average price of $51.69 and a 200-day moving average price of $46.72.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating 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 previous year, the business posted $2.00 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts predict that Bristol-Myers Squibb will post 0.9 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

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.