Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Arrow Financial Corp

Arrow Financial Corp cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 62.2% in the 3rd quarter, Holdings Channel reports. The firm owned 9,401 shares of the biopharmaceutical company’s stock after selling 15,468 shares during the period. Arrow Financial Corp’s holdings in Bristol-Myers Squibb were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BMY. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 206 shares during the last quarter. Graypoint LLC increased its stake in Bristol-Myers Squibb by 29.4% in the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after purchasing an additional 2,563 shares in the last quarter. Xponance Inc. raised its holdings in Bristol-Myers Squibb by 8.8% during the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after buying an additional 25,543 shares during the period. Plato Investment Management Ltd raised its holdings in Bristol-Myers Squibb by 25.4% during the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after buying an additional 21,041 shares during the period. Finally, AlTi Global Inc. lifted its stake in Bristol-Myers Squibb by 795.6% during the second quarter. AlTi Global Inc. now owns 107,268 shares of the biopharmaceutical company’s stock valued at $4,455,000 after buying an additional 95,291 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In related news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 0.00 % 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 insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $75.00 to $55.00 in a report on Friday, October 25th. Finally, 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. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $53.00.

Bristol-Myers Squibb Trading Down 1.0 %

NYSE:BMY opened at $54.14 on Friday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The company has a market capitalization of $109.81 billion, a P/E ratio of -15.08, a P/E/G ratio of 20.52 and a beta of 0.44. The stock’s 50 day moving average price is $51.87 and its 200 day moving average price is $46.81. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $56.80.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly 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 negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 EPS. On average, research analysts forecast that Bristol-Myers Squibb will post 0.9 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

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.