M&T Bank Corp Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

M&T Bank Corp cut its position in Bristol-Myers Squibb (NYSE:BMY) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 901,347 shares of the biopharmaceutical company’s stock after selling 42,123 shares during the quarter. M&T Bank Corp’s holdings in Bristol-Myers Squibb were worth $46,636,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BMY. Reston Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth $25,000. Hollencrest Capital Management raised its holdings in shares of Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $28,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter worth about $29,000. Finally, Valued Wealth Advisors LLC increased its position in Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The shares were 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 approximately $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.8 %

BMY opened at $57.33 on Friday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The company has a market cap of $116.28 billion, a price-to-earnings ratio of -15.97, a PEG ratio of 15.20 and a beta of 0.45. The business’s fifty day moving average is $56.27 and its two-hundred day moving average is $49.83. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 EPS. Analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given 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 yield of 4.33%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Analysts Set New Price Targets

BMY has been the subject of a number of recent research reports. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Morgan Stanley lifted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Finally, Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.64.

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.