TCTC Holdings LLC Sells 15,645 Shares of Bristol-Myers Squibb (NYSE:BMY)

TCTC Holdings LLC decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 407,299 shares of the biopharmaceutical company’s stock after selling 15,645 shares during the quarter. TCTC Holdings LLC’s holdings in Bristol-Myers Squibb were worth $21,074,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BMY. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Bristol-Myers Squibb by 4.7% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,492 shares of the biopharmaceutical company’s stock worth $786,000 after purchasing an additional 654 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in Bristol-Myers Squibb by 6.2% in the 1st quarter. TCI Wealth Advisors Inc. now owns 6,882 shares of the biopharmaceutical company’s stock worth $373,000 after purchasing an additional 402 shares in the last quarter. Montag A & Associates Inc. raised its stake in Bristol-Myers Squibb by 9.1% in the 1st quarter. Montag A & Associates Inc. now owns 20,999 shares of the biopharmaceutical company’s stock worth $1,139,000 after purchasing an additional 1,758 shares in the last quarter. Keudell Morrison Wealth Management raised its stake in Bristol-Myers Squibb by 50.4% in the 1st quarter. Keudell Morrison Wealth Management now owns 16,452 shares of the biopharmaceutical company’s stock worth $892,000 after purchasing an additional 5,511 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in Bristol-Myers Squibb in the 1st quarter worth about $231,000. Institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value 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. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY stock opened at $54.16 on Friday. The company has a 50 day simple moving average of $51.87 and a 200 day simple moving average of $46.81. The stock has a market cap of $109.85 billion, a price-to-earnings ratio of -15.09, a P/E/G ratio of 12.39 and a beta of 0.44. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.80. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the company earned $2.00 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts anticipate that Bristol-Myers Squibb will post 0.9 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays lifted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb 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.