Waters Parkerson & CO. LLC Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

Waters Parkerson & CO. LLC lowered its position in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,946 shares of the biopharmaceutical company’s stock after selling 300 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in Bristol-Myers Squibb were worth $1,100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. True Wealth Design LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at $26,000. Northwest Capital Management Inc bought a new position in Bristol-Myers Squibb during the 2nd quarter valued at $26,000. Coppell Advisory Solutions Corp. bought a new position in Bristol-Myers Squibb during the 4th quarter valued at $31,000. Coppell Advisory Solutions LLC bought a new position in Bristol-Myers Squibb during the 2nd quarter valued at $28,000. Finally, Live Oak Investment Partners bought a new position in Bristol-Myers Squibb during the 4th quarter valued at $33,000. 74.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Christopher S. Boerner bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average cost of $49.78 per share, with a total value of $99,560.00. Following the completion of the transaction, the chief executive officer now directly owns 82,672 shares in the company, valued at $4,115,412.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Theodore R. Samuels II bought 8,500 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was bought at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the completion of the purchase, the director now owns 35,500 shares of the company’s stock, valued at approximately $1,768,255. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher S. Boerner bought 2,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was purchased at an average price of $49.78 per share, with a total value of $99,560.00. Following the purchase, the chief executive officer now directly owns 82,672 shares of the company’s stock, valued at approximately $4,115,412.16. The disclosure for this purchase can be found here. Insiders have bought a total of 13,571 shares of company stock valued at $672,994 over the last three months. 0.08% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded up $0.18 during midday trading on Monday, hitting $49.99. The company’s stock had a trading volume of 807,453 shares, compared to its average volume of 15,735,758. The stock has a market capitalization of $101.72 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.53 and a beta of 0.38. The stock’s 50 day simple moving average is $50.52 and its 200 day simple moving average is $54.66. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $73.47. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.18.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.33% and a net margin of 17.83%. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same period last year, the business earned $1.82 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.52 earnings per share for the current year.

Bristol-Myers Squibb declared that its board has initiated a share repurchase plan on Thursday, December 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, January 4th. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a yield of 4.80%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BMY shares. The Goldman Sachs Group reduced their target price on Bristol-Myers Squibb from $81.00 to $69.00 and set a “buy” rating for the company in a report on Monday, October 30th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, February 5th. Daiwa Capital Markets lowered Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $68.00 to $54.00 in a report on Thursday, November 2nd. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.17.

View Our Latest Research Report on BMY

About Bristol-Myers Squibb

(Free Report)

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

Further Reading

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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