Archer Investment Corp Has $1.31 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Archer Investment Corp increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,313 shares of the biopharmaceutical company’s stock after purchasing an additional 401 shares during the quarter. Archer Investment Corp’s holdings in Bristol-Myers Squibb were worth $1,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth approximately $25,000. Hollencrest Capital Management lifted its holdings in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares during the last quarter. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth approximately $27,000. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth approximately $28,000. Finally, Valued Wealth Advisors LLC boosted its stake in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average cost 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 of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was 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 owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BMY. Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Morgan Stanley increased their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday. Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, Wolfe Research began coverage on Bristol-Myers Squibb in a report on Friday. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded down $1.24 during trading on Friday, hitting $57.26. The stock had a trading volume of 2,134,233 shares, compared to its average volume of 14,377,049. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. 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 stock’s 50 day moving average is $52.58 and its two-hundred day moving average is $47.15. The stock has a market cap of $116.13 billion, a price-to-earnings ratio of -15.92, a price-to-earnings-growth ratio of 15.83 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the prior year, the business posted $2.00 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

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.