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Arvest Trust Co. N A Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Financial News Live · Jan 27, 2023 18:56

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.

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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

In related news, EVP Rupert Vessey sold 45,910 shares of Bristol-Myers Squibb stock in a transaction dated 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 transaction, the executive vice president now owns 57,079 shares of the company's stock, valued at approximately $4,502,391.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Bristol-Myers Squibb news, EVP Ann Powell sold 16,250 shares of Bristol-Myers Squibb stock in a transaction dated 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 transaction, the executive vice president now owns 34,226 shares of the company's stock, valued at approximately $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 Bristol-Myers Squibb stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $78.88, for a total value of $3,621,380.80. Following the transaction, the executive vice president now directly owns 57,079 shares in the company, valued at approximately $4,502,391.52. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

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.