CMG Global Holdings LLC Purchases New Shares in Bristol-Myers Squibb (NYSE:BMY)

CMG Global Holdings LLC acquired a new position in Bristol-Myers Squibb (NYSE:BMY) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,952 shares of the biopharmaceutical company’s stock, valued at approximately $308,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at approximately $143,000. Lazard Asset Management LLC boosted its stake in shares of Bristol-Myers Squibb by 51.5% during the 1st quarter. Lazard Asset Management LLC now owns 1,731,255 shares of the biopharmaceutical company’s stock valued at $93,884,000 after buying an additional 588,799 shares during the last quarter. Kestra Advisory Services LLC grew its position in shares of Bristol-Myers Squibb by 15.8% during the first quarter. Kestra Advisory Services LLC now owns 221,492 shares of the biopharmaceutical company’s stock worth $12,011,000 after buying an additional 30,297 shares in the last quarter. BOKF NA increased its stake in shares of Bristol-Myers Squibb by 23.0% in the first quarter. BOKF NA now owns 143,343 shares of the biopharmaceutical company’s stock worth $7,596,000 after buying an additional 26,816 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after acquiring an additional 5,461,767 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on BMY shares. 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. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. UBS Group lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley upped their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $58.87 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock has a fifty day moving average of $53.66 and a 200-day moving average of $47.72. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the company posted $2.00 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -66.85%.

Insiders Place Their Bets

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

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.