Concord Asset Management LLC VA Acquires New Position in Bristol-Myers Squibb (NYSE:BMY)

Concord Asset Management LLC VA purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,537 shares of the biopharmaceutical company’s stock, valued at approximately $822,000.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its position in shares of Bristol-Myers Squibb by 1.6% in the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after acquiring an additional 1,451,214 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 valued at $3,157,713,000 after buying an additional 1,968,729 shares in the last quarter. FMR LLC raised its position in shares of Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after buying an additional 4,275,787 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 2.5% in the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after buying an additional 1,036,495 shares in the last quarter. Finally, 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. 76.41% of the stock is currently owned by institutional investors.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on 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 trade represents a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on BMY shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, TD Cowen increased their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Two investment 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. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $56.60.

Bristol-Myers Squibb Trading Down 0.5 %

BMY opened at $58.86 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The stock’s fifty day moving average is $57.60 and its two-hundred day moving average is $53.19. The company has a market capitalization of $119.38 billion, a P/E ratio of -16.40, a PEG ratio of 2.10 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last released 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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the company posted $2.00 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

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.