Physicians Financial Services Inc. Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Physicians Financial Services Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,763 shares of the biopharmaceutical company’s stock after selling 350 shares during the quarter. Physicians Financial Services Inc.’s holdings in Bristol-Myers Squibb were worth $764,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Quantum Private Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $213,000. Stiles Financial Services Inc increased its holdings in Bristol-Myers Squibb by 0.9% during the 3rd quarter. Stiles Financial Services Inc now owns 24,747 shares of the biopharmaceutical company’s stock worth $1,280,000 after purchasing an additional 222 shares during the period. Comprehensive Financial Consultants Institutional Inc. raised its position in Bristol-Myers Squibb by 3.1% in the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 22,540 shares of the biopharmaceutical company’s stock valued at $1,166,000 after purchasing an additional 683 shares in the last quarter. Smith Thornton Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $202,000. Finally, Verity Asset Management Inc. grew its position in shares of Bristol-Myers Squibb by 93.9% during the third quarter. Verity Asset Management Inc. now owns 30,342 shares of the biopharmaceutical company’s stock worth $1,570,000 after buying an additional 14,694 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction 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 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 document filed with the SEC, which is available through the SEC website. In related news, EVP Samit Hirawat acquired 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 completion of the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded down $0.21 during midday trading on Friday, reaching $54.50. The stock had a trading volume of 560,292 shares, compared to its average volume of 14,355,593. The stock has a market cap of $110.54 billion, a P/E ratio of -15.25, a P/E/G ratio of 12.39 and a beta of 0.44. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.80. The firm has a fifty day simple moving average of $51.69 and a two-hundred day simple moving average of $46.72.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 earnings per share. On average, equities analysts expect that Bristol-Myers Squibb will post 0.9 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given 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 4.40%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Analyst Ratings Changes

A number of research analysts recently issued reports on BMY shares. BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $75.00 to $55.00 in a research note on Friday, October 25th. Jefferies Financial Group raised their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Sanford C. Bernstein began 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 on the stock. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.00.

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.