Principal Street Partners LLC Decreases Stake in Bristol-Myers Squibb (NYSE:BMY)

Principal Street Partners LLC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,215 shares of the biopharmaceutical company’s stock after selling 13,807 shares during the quarter. Principal Street Partners LLC’s holdings in Bristol-Myers Squibb were worth $6,116,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Avestar Capital LLC increased its position in Bristol-Myers Squibb by 61.1% in the third quarter. Avestar Capital LLC now owns 11,315 shares of the biopharmaceutical company’s stock worth $585,000 after purchasing an additional 4,293 shares during the last quarter. FMR LLC increased its holdings in shares of Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after buying an additional 4,275,787 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 2.4% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 9,658 shares of the biopharmaceutical company’s stock worth $500,000 after buying an additional 225 shares during the last quarter. Dai ichi Life Insurance Company Ltd lifted its holdings in shares of Bristol-Myers Squibb by 308.7% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 66,197 shares of the biopharmaceutical company’s stock valued at $3,425,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Patton Albertson Miller Group LLC purchased a new position in Bristol-Myers Squibb in the third quarter worth about $246,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of NYSE BMY opened at $58.84 on Tuesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The firm has a market cap of $119.34 billion, a PE ratio of -16.36, a price-to-earnings-growth ratio of 15.79 and a beta of 0.44. The business has a fifty day simple moving average of $53.83 and a two-hundred day simple moving average of $47.87. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the company posted $2.00 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.08%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the business’s 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Cowen upped their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Jefferies Financial Group raised their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.07.

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.