Pallas Capital Advisors LLC lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 27,338 shares of the biopharmaceutical company’s stock after selling 809 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,546,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Inspire Trust Co. N.A. increased its holdings in Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after buying an additional 29,044 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after purchasing an additional 11,387 shares during the last quarter. iA Global Asset Management Inc. lifted its position in Bristol-Myers Squibb by 81.3% during the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after purchasing an additional 34,418 shares during the period. Finally, Bellevue Group AG purchased a new stake in Bristol-Myers Squibb in the third quarter valued at $1,905,000. 76.41% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction dated 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 purchase, 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. Insiders own 0.09% of the company’s stock.
Bristol-Myers Squibb Price Performance
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business 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 revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $2.00 EPS. On average, equities analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.
Bristol-Myers Squibb Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.48%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.
Analyst Ratings Changes
BMY has been the subject of a number of recent research reports. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Bank of America reissued a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Finally, Morgan Stanley raised their price target 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. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.27.
View Our Latest Stock Analysis on BMY
About Bristol-Myers Squibb
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.
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