Private Portfolio Partners LLC lessened its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,636 shares of the biopharmaceutical company's stock after selling 241 shares during the period. Bristol-Myers Squibb comprises about 0.8% of Private Portfolio Partners LLC's portfolio, making the stock its 29th biggest position. Private Portfolio Partners LLC's holdings in Bristol-Myers Squibb were worth $2,747,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in BMY. Schubert & Co lifted its stake in shares of Bristol-Myers Squibb by 119.1% in the 2nd quarter. Schubert & Co now owns 333 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 181 shares during the period. Castle Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $26,000. Kessler Investment Group LLC acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $31,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $30,000. Finally, New Millennium Group LLC acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $31,000. Institutional investors own 75.51% of the company's stock.
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Bristol-Myers Squibb Stock Performance
Shares of BMY stock traded down $0.18 during trading on Friday, hitting $72.81. The company's stock had a trading volume of 1,916,903 shares, compared to its average volume of 7,947,767. The company has a market cap of $154.81 billion, a PE ratio of 23.76, a P/E/G ratio of 1.63 and a beta of 0.44. The company has a current ratio of 1.42, a quick ratio of 1.31 and a debt-to-equity ratio of 1.13. The business has a fifty day moving average of $75.18 and a 200-day moving average of $73.69. Bristol-Myers Squibb has a 52 week low of $62.90 and a 52 week high of $81.43.
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.16. Bristol-Myers Squibb had a return on equity of 50.30% and a net
margin of 14.29%. The business had revenue of $11.22 billion during the quarter, compared to analyst estimates of $11.18 billion. During the same period in the prior year, the company earned $2.00 earnings per share. Bristol-Myers Squibb's revenue was down 3.5% compared to the same quarter last year. As a group, research analysts anticipate that Bristol-Myers Squibb will post 7.61 earnings per share for the current year.
Bristol-Myers Squibb Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 6th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, January 5th. This represents a $2.28 annualized dividend and a dividend yield of 3.13%. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.54. Bristol-Myers Squibb's dividend payout ratio is currently 74.27%.
Insiders Place Their Bets
In other Bristol-Myers Squibb news, EVP Ann Powell sold 16,250 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total transaction of $1,307,312.50. Following the sale, the executive vice president now owns 34,226 shares in the company, valued at $2,753,481.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Bristol-Myers Squibb news, EVP Ann Powell sold 16,250 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total transaction of $1,307,312.50. Following the sale, the executive vice president now owns 34,226 shares in the company, valued at $2,753,481.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rupert Vessey sold 45,910 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $78.88, for a total value of $3,621,380.80. Following the completion of the sale, the executive vice president now owns 57,079 shares in the company, valued at approximately $4,502,391.52. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on BMY shares. Morgan Stanley dropped their price objective on 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. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $70.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 3rd. Credit Suisse Group began coverage on Bristol-Myers Squibb in a research note on Thursday, November 17th. They set a "neutral" rating and a $78.00 price target on the stock. Barclays dropped their price target on Bristol-Myers Squibb from $69.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 12th. Finally, Guggenheim downgraded Bristol-Myers Squibb from a "buy" rating to a "neutral" rating in a research note on Monday, October 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of "Moderate Buy" and an average price target of $80.60.
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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