Spire Wealth Management reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 43.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,608 shares of the biopharmaceutical company's stock after selling 11,800 shares during the period. Spire Wealth Management's holdings in Bristol-Myers Squibb were worth $1,110,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Benedict Financial Advisors Inc. boosted its stake in shares of Bristol-Myers Squibb by 0.8% in the third quarter. Benedict Financial Advisors Inc. now owns 68,058 shares of the biopharmaceutical company's stock valued at $4,838,000 after buying an additional 570 shares in the last quarter. Flputnam Investment Management Co. lifted its holdings in Bristol-Myers Squibb by 82.6% in the third quarter. Flputnam Investment Management Co. now owns 108,233 shares of the biopharmaceutical company's stock valued at $7,694,000 after acquiring an additional 48,956 shares during the period. Western Wealth Management LLC boosted its position in shares of Bristol-Myers Squibb by 31.7% during the 3rd quarter. Western Wealth Management LLC now owns 44,634 shares of the biopharmaceutical company's stock worth $3,167,000 after purchasing an additional 10,732 shares in the last quarter. Tamar Securities LLC grew its stake in shares of Bristol-Myers Squibb by 25.0% during the 3rd quarter. Tamar Securities LLC now owns 136,300 shares of the biopharmaceutical company's stock worth $9,690,000 after purchasing an additional 27,259 shares during the period. Finally, First National Advisers LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $228,000. Institutional investors and hedge funds own 75.51% of the company's stock.
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Analyst Ratings Changes
A number of analysts recently commented on the stock. Atlantic Securities boosted their price objective on shares of Bristol-Myers Squibb from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, November 10th. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $70.00 to $78.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 3rd. StockNews.com began coverage on Bristol-Myers Squibb in a report on Wednesday, October 12th. They issued a "strong-buy" rating on the stock. Guggenheim cut Bristol-Myers Squibb from a "buy" rating to a "neutral" rating in a report on Monday, October 10th. Finally, Barclays lowered their target price on 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $80.60.
Bristol-Myers Squibb Price Performance
Bristol-Myers Squibb stock opened at $72.45 on Friday. The stock has a market capitalization of $154.04 billion, a P/E ratio of 23.60, a P/E/G ratio of 1.63 and a beta of 0.44. Bristol-Myers Squibb has a 12-month low of $62.90 and a 12-month high of $81.43. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.42 and a quick ratio of 1.31. The firm's 50-day moving average is $75.18 and its two-hundred day moving average is $73.69.
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its earnings results on Tuesday, October 25th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.16. The firm had revenue of $11.22 billion for the quarter, compared to analyst estimates of $11.18 billion. Bristol-Myers Squibb had a net margin of 14.29% and a return on equity of 50.30%. Bristol-Myers Squibb's revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.00 earnings per share. Equities analysts predict that Bristol-Myers Squibb will post 7.61 earnings per share for the current year.
Bristol-Myers Squibb Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Friday, January 6th will be given a $0.57 dividend. The ex-dividend date is Thursday, January 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.15%. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.54. Bristol-Myers Squibb's payout ratio is currently 74.27%.
Insider Activity at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, EVP Ann Powell sold 16,250 shares of the firm's stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total value of $1,307,312.50. Following the sale, the executive vice president now directly owns 34,226 shares of the company's stock, valued at approximately $2,753,481.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Rupert Vessey sold 45,910 shares of the company's stock in a transaction on Monday, November 7th. The stock was sold at an average price of $78.88, for a total transaction of $3,621,380.80. Following the completion of the sale, the executive vice president now directly owns 57,079 shares in the company, valued at approximately $4,502,391.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Powell sold 16,250 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $80.45, for a total value of $1,307,312.50. Following the completion of the transaction, the executive vice president now owns 34,226 shares in the company, valued at approximately $2,753,481.70. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.
Bristol-Myers Squibb Company 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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