Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.2% in the third quarter, Holdings Channel reports. The institutional investor owned 47,941 shares of the biopharmaceutical company’s stock after buying an additional 2,800 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Bristol-Myers Squibb were worth $2,480,000 as of its most recent SEC filing.

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

Bristol-Myers Squibb Trading Down 1.0 %

Bristol-Myers Squibb stock traded down $0.54 during mid-day trading on Friday, reaching $55.74. The company had a trading volume of 1,621,751 shares, compared to its average volume of 14,009,264. The business has a fifty day simple moving average of $55.82 and a 200 day simple moving average of $49.17. 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 fifty-two week low of $39.35 and a fifty-two week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.00 earnings per share. On average, equities 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 given a $0.62 dividend. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.45%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Morgan Stanley raised their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, Citigroup increased their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $54.29.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the company’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 transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

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.