Patriot Investment Management Group Inc. Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Patriot Investment Management Group Inc. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,384 shares of the biopharmaceutical company’s stock after selling 893 shares during the period. Patriot Investment Management Group Inc.’s holdings in Bristol-Myers Squibb were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Reston Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management lifted its position in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at $29,000. Finally, Valued Wealth Advisors LLC raised its position in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 3.6 %

NYSE BMY opened at $59.15 on Friday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The firm has a 50-day moving average price of $57.39 and a 200 day moving average price of $52.36.

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

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -69.08%.

Analyst Ratings Changes

Several brokerages recently commented on BMY. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Morgan Stanley upped their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $56.27.

Insider Activity

In other news, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade 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.

Bristol-Myers Squibb Profile

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.