Beacon Investment Advisory Services Inc. Sells 300 Shares of Bristol-Myers Squibb (NYSE:BMY)

Beacon Investment Advisory Services Inc. cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,851 shares of the biopharmaceutical company’s stock after selling 300 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Bristol-Myers Squibb were worth $444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BMY. FMR LLC boosted its stake in Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Jennison Associates LLC lifted its holdings in shares of Bristol-Myers Squibb by 420.1% in the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after buying an additional 3,425,789 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after acquiring an additional 3,107,672 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Bristol-Myers Squibb by 18.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after acquiring an additional 3,002,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after acquiring an additional 1,968,729 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BMY has been the subject of several analyst reports. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, UBS Group upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $59.15 on Friday. The firm has a fifty day simple moving average of $57.39 and a two-hundred day simple moving average of $52.36. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The company has a market capitalization of $119.97 billion, a PE ratio of -16.48, a P/E/G ratio of 2.02 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share 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 analyst estimates of $11.26 billion. During the same quarter in the previous year, the company posted $2.00 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a $0.62 dividend. This is a boost 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 4.19%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -69.08%.

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.