Sheaff Brock Investment Advisors LLC Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Sheaff Brock Investment Advisors LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 19.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,758 shares of the biopharmaceutical company’s stock after selling 8,329 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $25,000. Northwest Capital Management Inc bought a new stake in Bristol-Myers Squibb in the second quarter worth $26,000. True Wealth Design LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $26,000. Milestone Investment Advisors LLC bought a new stake in Bristol-Myers Squibb in the third quarter worth $27,000. Finally, Coppell Advisory Solutions LLC bought a new stake in Bristol-Myers Squibb in the second quarter worth $28,000. Institutional investors own 74.98% of the company’s stock.

Bristol-Myers Squibb Stock Up 3.1 %

Shares of BMY stock traded up $1.50 on Tuesday, hitting $49.48. The stock had a trading volume of 13,356,020 shares, compared to its average volume of 15,962,779. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average price of $50.54 and a 200 day moving average price of $55.09. The company has a market cap of $100.68 billion, a PE ratio of 12.83, a P/E/G ratio of 1.35 and a beta of 0.38. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $74.69.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.33% and a net margin of 17.83%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. Research analysts anticipate that Bristol-Myers Squibb will post 7.2 earnings per share for the current fiscal year.

Bristol-Myers Squibb announced that its board has approved a stock buyback program on Thursday, December 7th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were issued a $0.60 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend was Thursday, January 4th. Bristol-Myers Squibb’s payout ratio is presently 62.18%.

Insiders Place Their Bets

In other news, CEO Christopher S. Boerner bought 3,071 shares of Bristol-Myers Squibb stock in a transaction on Tuesday, November 28th. The stock was acquired at an average cost of $48.86 per share, for a total transaction of $150,049.06. Following the completion of the acquisition, the chief executive officer now owns 79,384 shares of the company’s stock, valued at approximately $3,878,702.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Christopher S. Boerner acquired 3,071 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were purchased at an average price of $48.86 per share, for a total transaction of $150,049.06. Following the completion of the acquisition, the chief executive officer now directly owns 79,384 shares in the company, valued at approximately $3,878,702.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Theodore R. Samuels II acquired 8,500 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the acquisition, the director now owns 35,500 shares of the company’s stock, valued at $1,768,255. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 13,571 shares of company stock worth $672,994. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BMO Capital Markets cut shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating and set a $60.00 price target on the stock. in a research report on Friday, October 27th. Daiwa Capital Markets cut shares of Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $54.00 in a research report on Thursday, November 2nd. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $77.00 to $54.00 in a research report on Tuesday. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company dropped their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.17.

Read Our Latest Report on BMY

Bristol-Myers Squibb Profile

(Free Report)

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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