Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,148 shares of the biopharmaceutical company’s stock after selling 779 shares during the period. Adirondack Trust Co.’s holdings in Bristol-Myers Squibb were worth $1,479,000 as of its most recent SEC filing.

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

Bristol-Myers Squibb Stock Up 0.1 %

Shares of NYSE:BMY opened at $57.11 on Thursday. The company has a market capitalization of $115.83 billion, a PE ratio of -15.91, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The business has a fifty day moving average price of $57.39 and a two-hundred day moving average price of $52.36.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results 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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the firm earned $2.00 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.34%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Wall Street Analyst Weigh In

BMY has been the topic of several research analyst reports. BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Wolfe Research began coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. UBS Group boosted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. Finally, Morgan Stanley increased their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.27.

Insider Activity at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the company’s 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 in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction dated 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 transaction, the executive vice president now owns 62,109 shares of the company’s stock, 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. 0.09% of the stock is currently owned by company insiders.

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.