Brown Brothers Harriman & Co. Has $4.47 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Brown Brothers Harriman & Co. lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 7.6% in the third quarter, Holdings Channel.com reports. The firm owned 86,429 shares of the biopharmaceutical company’s stock after selling 7,111 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Bristol-Myers Squibb were worth $4,472,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $25,000. Hollencrest Capital Management grew its holdings in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth $29,000. Finally, Valued Wealth Advisors LLC increased its holdings in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $58.73 on Tuesday. The stock’s 50 day moving average is $53.83 and its 200-day moving average is $47.87. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $119.11 billion, a price-to-earnings ratio of -16.36, a PEG ratio of 15.79 and a beta of 0.44.

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 analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.00 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BMY. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. 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. Barclays lifted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $54.07.

Insider Activity

In related 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 completion of the sale, the senior vice president now directly 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was 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.