Sandy Cove Advisors LLC Invests $216,000 in Bristol-Myers Squibb (NYSE:BMY)

Sandy Cove Advisors LLC acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,824 shares of the biopharmaceutical company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Seven Eight Capital LP bought a new stake in Bristol-Myers Squibb in the second quarter valued at $392,000. Benjamin F. Edwards & Company Inc. lifted its position in Bristol-Myers Squibb by 6.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 94,911 shares of the biopharmaceutical company’s stock valued at $3,941,000 after purchasing an additional 5,382 shares during the last quarter. Bridges Investment Management Inc. boosted its stake in Bristol-Myers Squibb by 15.6% during the 2nd quarter. Bridges Investment Management Inc. now owns 14,600 shares of the biopharmaceutical company’s stock valued at $606,000 after purchasing an additional 1,971 shares during the period. AE Wealth Management LLC grew its position in Bristol-Myers Squibb by 17.2% in the 2nd quarter. AE Wealth Management LLC now owns 108,803 shares of the biopharmaceutical company’s stock worth $4,519,000 after purchasing an additional 15,934 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Bristol-Myers Squibb by 0.6% in the second quarter. Ameritas Investment Partners Inc. now owns 55,336 shares of the biopharmaceutical company’s stock valued at $2,298,000 after purchasing an additional 338 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $56.35 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 market cap of $114.30 billion, a P/E ratio of -15.70, a P/E/G ratio of 1.95 and a beta of 0.45. The business’s 50 day moving average is $57.53 and its two-hundred day moving average is $51.92. 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 announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced 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. This represents a $2.48 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen boosted their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Citigroup increased their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. UBS Group upped their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, 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 note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $56.27.

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.