Triangle Securities Wealth Management Sells 1,499 Shares of Bristol-Myers Squibb (NYSE:BMY)

Triangle Securities Wealth Management lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.2% during the fourth quarter, Holdings Channel reports. The firm owned 16,767 shares of the biopharmaceutical company’s stock after selling 1,499 shares during the period. Triangle Securities Wealth Management’s holdings in Bristol-Myers Squibb were worth $948,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Seven Eight Capital LP bought a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $392,000. Benjamin F. Edwards & Company Inc. grew its holdings in Bristol-Myers Squibb by 6.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 94,911 shares of the biopharmaceutical company’s stock valued at $3,941,000 after purchasing an additional 5,382 shares during the last quarter. Bridges Investment Management Inc. raised its position in shares of Bristol-Myers Squibb by 15.6% in the second quarter. Bridges Investment Management Inc. now owns 14,600 shares of the biopharmaceutical company’s stock valued at $606,000 after purchasing an additional 1,971 shares during the period. AE Wealth Management LLC lifted its stake in shares of Bristol-Myers Squibb by 17.2% in the second quarter. AE Wealth Management LLC now owns 108,803 shares of the biopharmaceutical company’s stock worth $4,519,000 after buying an additional 15,934 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Bristol-Myers Squibb by 0.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 55,336 shares of the biopharmaceutical company’s stock worth $2,298,000 after buying an additional 338 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $56.35 on Friday. The business has a 50 day simple moving average of $57.53 and a 200 day simple moving average of $51.92. 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 company has a market capitalization of $114.30 billion, a PE ratio of -15.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period last year, the business earned $2.00 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.40%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BMY shares. 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 research report on Monday, October 7th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target on the stock. UBS Group increased their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Company 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.