Daiwa Securities Group Inc. Purchases 78,309 Shares of Bristol-Myers Squibb (NYSE:BMY)

Daiwa Securities Group Inc. grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 31.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 330,191 shares of the biopharmaceutical company’s stock after purchasing an additional 78,309 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Bristol-Myers Squibb were worth $17,084,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC raised its position in shares of Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in Bristol-Myers Squibb by 34.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after purchasing an additional 11,387 shares during the last quarter. Graypoint LLC boosted its holdings in Bristol-Myers Squibb by 29.4% during the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after buying an additional 2,563 shares during the last quarter. Xponance Inc. grew its position in shares of 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. Finally, Plato Investment Management Ltd increased its stake in shares of Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after acquiring an additional 21,041 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $58.87 on Monday. The stock has a market capitalization of $119.40 billion, a PE ratio of -16.40, a price-to-earnings-growth ratio of 15.62 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The stock has a 50 day moving average price of $53.66 and a 200 day moving average price of $47.77. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.00 EPS. Analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed 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 was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.08%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $54.07.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

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.