Bristol-Myers Squibb (NYSE:BMY) Stock Position Raised by Pure Financial Advisors LLC

Pure Financial Advisors LLC lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 48.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,808 shares of the biopharmaceutical company’s stock after buying an additional 2,538 shares during the quarter. Pure Financial Advisors LLC’s holdings in Bristol-Myers Squibb were worth $442,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Inspire Trust Co. N.A. increased its stake in shares of Bristol-Myers Squibb by 39.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after purchasing an additional 29,044 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $488,000. Patriot Financial Group Insurance Agency LLC raised its holdings in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 206 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 34.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after buying an additional 11,387 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 81.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock worth $3,972,000 after acquiring an additional 34,418 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $57.01 on Wednesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The company has a 50-day moving average of $57.46 and a 200-day moving average of $52.20. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a market capitalization of $115.63 billion, a price-to-earnings ratio of -15.88, a PEG ratio of 1.98 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter last year, the company earned $2.00 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays raised their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. UBS Group upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets upped their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Finally, Wolfe Research initiated coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $56.27.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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.