Abacus Planning Group Inc. boosted its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,865 shares of the biopharmaceutical company’s stock after purchasing an additional 1,111 shares during the quarter. Abacus Planning Group Inc.’s holdings in Bristol-Myers Squibb were worth $450,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Parallel Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 5.3% during the third quarter. Parallel Advisors LLC now owns 21,637 shares of the biopharmaceutical company’s stock valued at $1,097,000 after acquiring an additional 1,082 shares in the last quarter. JNBA Financial Advisors increased its holdings in shares of Bristol-Myers Squibb by 58.1% during the third quarter. JNBA Financial Advisors now owns 4,082 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 1,500 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Bristol-Myers Squibb by 9.2% during the third quarter. Cullen Frost Bankers Inc. now owns 99,850 shares of the biopharmaceutical company’s stock valued at $5,064,000 after acquiring an additional 8,406 shares in the last quarter. Hedeker Wealth LLC grew its holdings in Bristol-Myers Squibb by 1.1% during the third quarter. Hedeker Wealth LLC now owns 27,365 shares of the biopharmaceutical company’s stock worth $1,387,000 after buying an additional 299 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. grew its holdings in Bristol-Myers Squibb by 22.3% during the third quarter. Beese Fulmer Investment Management Inc. now owns 58,377 shares of the biopharmaceutical company’s stock worth $2,960,000 after buying an additional 10,644 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.
Shares of Bristol-Myers Squibb stock opened at $56.96 on Thursday. The stock has a fifty day simple moving average of $52.60 and a 200 day simple moving average of $48.07. The company has a current ratio of 3.83, a quick ratio of 3.72 and a debt-to-equity ratio of 1.37. Bristol-Myers Squibb Co has a 12-month low of $42.48 and a 12-month high of $58.46. The company has a market capitalization of $93.13 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.11. Bristol-Myers Squibb had a return on equity of 45.49% and a net margin of 23.53%. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.89 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. On average, analysts predict that Bristol-Myers Squibb Co will post 4.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.88%. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
In other Bristol-Myers Squibb news, insider Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $56.56, for a total value of $1,414,000.00. Following the transaction, the insider now owns 31,963 shares of the company’s stock, valued at $1,807,827.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP John E. Elicker sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $56.66, for a total value of $849,900.00. Following the completion of the transaction, the senior vice president now directly owns 74,471 shares in the company, valued at approximately $4,219,526.86. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.
Several brokerages recently issued reports on BMY. JPMorgan Chase & Co. set a $62.00 price target on Bristol-Myers Squibb and gave the stock a “buy” rating in a report on Friday, September 13th. TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a report on Wednesday, September 18th. ValuEngine downgraded Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Friday, October 25th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target for the company in a report on Wednesday, August 14th. Finally, Peel Hunt reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Buy” and a consensus price target of $56.64.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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