Anchor Investment Management LLC Sells 418 Shares of Bristol-Myers Squibb (NYSE:BMY)

Anchor Investment Management LLC lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 15,232 shares of the biopharmaceutical company’s stock after selling 418 shares during the period. Anchor Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tudor Financial Inc. bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $250,000. Second Line Capital LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $284,000. Soltis Investment Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 8.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 7,382 shares of the biopharmaceutical company’s stock valued at $382,000 after acquiring an additional 573 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Bristol-Myers Squibb by 9.6% during the 3rd quarter. Rehmann Capital Advisory Group now owns 27,570 shares of the biopharmaceutical company’s stock valued at $1,435,000 after acquiring an additional 2,412 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of Bristol-Myers Squibb by 11.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 82,008 shares of the biopharmaceutical company’s stock valued at $4,243,000 after acquiring an additional 8,703 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.7 %

BMY opened at $56.28 on Friday. The stock’s fifty day moving average is $55.78 and its two-hundred day moving average is $49.12. The company has a market capitalization of $114.15 billion, a P/E ratio of -15.68, a PEG ratio of 15.93 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week 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.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 EPS. Analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.41%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following 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 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BMY shares. Wolfe Research started coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating on the stock. BMO Capital Markets raised their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two investment 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 company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $54.29.

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.