Cullinan Associates Inc. Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cullinan Associates Inc. lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,688 shares of the biopharmaceutical company’s stock after acquiring an additional 14,710 shares during the quarter. Cullinan Associates Inc.’s holdings in Bristol-Myers Squibb were worth $9,043,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dakota Wealth Management purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at $332,000. Covestor Ltd increased its position in Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,082 shares during the period. NewEdge Advisors LLC increased its position in Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after purchasing an additional 57,444 shares during the period. Ergoteles LLC purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $1,997,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Bristol-Myers Squibb by 25.1% during the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after purchasing an additional 68,018 shares in the last quarter. Hedge funds and other institutional investors own 75.51% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $66.53 on Friday. The company has a market cap of $139.63 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.46 and a beta of 0.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.25 and a quick ratio of 1.14. The stock’s fifty day moving average price is $70.96 and its 200 day moving average price is $72.91. Bristol-Myers Squibb has a 1 year low of $65.28 and a 1 year high of $81.43.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.11. Bristol-Myers Squibb had a return on equity of 51.60% and a net margin of 13.71%. The business had revenue of $11.41 billion for the quarter, compared to analyst estimates of $11.20 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The company’s revenue was down 4.8% on a year-over-year basis. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 8.06 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $2.28 dividend on an annualized basis and a yield of 3.43%. Bristol-Myers Squibb’s dividend payout ratio is presently 77.29%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BMY. Cantor Fitzgerald began coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, January 17th. They issued an “overweight” rating and a $95.00 price objective for the company. Atlantic Securities upped their price objective on Bristol-Myers Squibb from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Morgan Stanley lifted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “underweight” rating in a research note on Friday, February 3rd. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $70.00 to $78.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 3rd. Finally, StockNews.com initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday. They issued a “strong-buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.69.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 240,000 shares of Bristol-Myers Squibb stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the completion of the transaction, the chief executive officer now owns 236,104 shares in the company, valued at approximately $17,625,163.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 240,000 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $74.65, for a total value of $17,916,000.00. Following the sale, the chief executive officer now owns 236,104 shares in the company, valued at approximately $17,625,163.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ann Powell sold 11,183 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $74.69, for a total transaction of $835,258.27. Following the transaction, the executive vice president now directly owns 23,043 shares of the company’s stock, valued at $1,721,081.67. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

About Bristol-Myers Squibb

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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.