Orrstown Financial Services Inc. Has $480,000 Holdings in Bristol-Myers Squibb (NYSE:BMY)

Orrstown Financial Services Inc. decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,494 shares of the biopharmaceutical company’s stock after selling 263 shares during the period. Orrstown Financial Services Inc.’s holdings in Bristol-Myers Squibb were worth $480,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BMY. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management increased its stake in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the third quarter worth about $29,000. Finally, Valued Wealth Advisors LLC lifted its holdings 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 acquiring an additional 549 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 1.4 %

Shares of NYSE:BMY traded up $0.81 during mid-day trading on Wednesday, hitting $59.57. The company had a trading volume of 462,882 shares, compared to its average volume of 9,374,601. 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 one year low of $39.35 and a one year high of $61.10. The firm has a fifty day moving average price of $57.56 and a 200 day moving average price of $52.97. The company has a market capitalization of $120.82 billion, a PE ratio of -16.61, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45.

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 the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 earnings per share. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current 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 an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.16%. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Truist Financial raised their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets upped their target price 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. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.60.

Insider Transactions at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average cost 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 of the company’s stock, valued at $3,395,499.03. The trade was 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 owned by insiders.

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.