Arvest Trust Co. N A increased its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 54.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,478 shares of the biopharmaceutical company's stock after purchasing an additional 14,324 shares during the quarter. Arvest Trust Co. N A's holdings in Bristol-Myers Squibb were worth $2,878,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Schubert & Co boosted its stake in shares of Bristol-Myers Squibb by 119.1% during the 2nd quarter. Schubert & Co now owns 333 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 181 shares during the last quarter. Castle Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth about $26,000. Kessler Investment Group LLC purchased a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth about $31,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth about $30,000. Finally, New Millennium Group LLC purchased a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth about $31,000. 75.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BMY shares. StockNews.com initiated coverage on shares of Bristol-Myers Squibb in a report on Wednesday, October 12th. They set a "strong-buy" rating on the stock. Barclays cut their price target on shares of Bristol-Myers Squibb from $69.00 to $66.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 12th. Cantor Fitzgerald started coverage on shares of Bristol-Myers Squibb in a report on Tuesday, January 17th. They issued an "overweight" rating and a $95.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Bristol-Myers Squibb from $61.00 to $60.00 and set an "underweight" rating on the stock in a research note on Thursday, October 27th. Finally, Atlantic Securities lifted their price objective on shares of Bristol-Myers Squibb from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of "Moderate Buy" and an average target price of $80.60.

Insider Buying and Selling

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $72.87 on Friday. Bristol-Myers Squibb has a fifty-two week low of $62.90 and a fifty-two week high of $81.43. The firm's 50-day simple moving average is $75.26 and its 200 day simple moving average is $73.69. The company has a quick ratio of 1.31, a current ratio of 1.42 and a debt-to-equity ratio of 1.13. The stock has a market cap of $154.93 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.63 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The biopharmaceutical company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.83 by $0.16. Bristol-Myers Squibb had a net margin of 14.29% and a return on equity of 50.30%. The firm had revenue of $11.22 billion for the quarter, compared to analysts' expectations of $11.18 billion. During the same period in the previous year, the business earned $2.00 earnings per share. Bristol-Myers Squibb's revenue for the quarter was down 3.5% compared to the same quarter last year. Equities analysts expect that Bristol-Myers Squibb will post 7.61 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Friday, January 6th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $2.28 dividend on an annualized basis and a yield of 3.13%. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.54. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently 74.27%.

Bristol-Myers Squibb Profile

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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