American Assets Inc. Purchases New Holdings in Bristol-Myers Squibb (NYSE:BMY)

American Assets Inc. acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,000 shares of the biopharmaceutical company’s stock, valued at approximately $621,000. Bristol-Myers Squibb comprises about 0.2% of American Assets Inc.’s portfolio, making the stock its 11th largest position.

A number of other hedge funds also recently bought and sold shares of the business. Savvy Advisors Inc. acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth $250,000. Ashton Thomas Private Wealth LLC raised its holdings in Bristol-Myers Squibb by 57.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 50,480 shares of the biopharmaceutical company’s stock worth $2,612,000 after purchasing an additional 18,383 shares in the last quarter. Meridian Management Co. boosted its stake in shares of Bristol-Myers Squibb by 0.6% in the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after buying an additional 182 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Bristol-Myers Squibb by 2.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,653,806 shares of the biopharmaceutical company’s stock valued at $240,788,000 after buying an additional 90,837 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Bristol-Myers Squibb by 227.7% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 22,143 shares of the biopharmaceutical company’s stock valued at $1,110,000 after buying an additional 15,385 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was acquired 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 directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE BMY traded down $0.09 on Tuesday, reaching $59.73. 1,889,011 shares of the stock traded hands, compared to its average volume of 14,397,465. The firm’s fifty day simple moving average is $52.07 and its 200 day simple moving average is $46.89. 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 company has a market cap of $121.14 billion, a price-to-earnings ratio of -16.66, a P/E/G ratio of 20.09 and a beta of 0.44. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (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 analyst estimates 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $2.00 EPS. As a group, research analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business 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. This represents a $2.40 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research analyst reports. Sanford C. Bernstein initiated 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 on the stock. Barclays upped their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. UBS Group upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $53.43.

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.