Woodmont Investment Counsel LLC Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Woodmont Investment Counsel LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 19.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 12,615 shares of the biopharmaceutical company’s stock after selling 3,074 shares during the period. Woodmont Investment Counsel LLC’s holdings in Bristol-Myers Squibb were worth $653,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Csenge Advisory Group raised its position in Bristol-Myers Squibb by 12.0% in the 1st quarter. Csenge Advisory Group now owns 9,484 shares of the biopharmaceutical company’s stock worth $514,000 after purchasing an additional 1,018 shares during the period. CFO4Life Group LLC purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth $233,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of Bristol-Myers Squibb by 35.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 187,968 shares of the biopharmaceutical company’s stock valued at $10,194,000 after buying an additional 49,342 shares during the period. Hilltop National Bank bought a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $436,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Bristol-Myers Squibb by 4.7% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,492 shares of the biopharmaceutical company’s stock worth $786,000 after acquiring an additional 654 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $54.74 on Friday. The company has a market cap of $111.02 billion, a price-to-earnings ratio of -15.25, a PEG ratio of 12.39 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock’s fifty day moving average price is $51.69 and its 200 day moving average price is $46.72. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.80.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.9 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.38%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated 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 directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of several research reports. Jefferies Financial Group upped their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. UBS Group boosted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets raised their price objective on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Finally, Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $53.00.

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.