City State Bank Sells 670 Shares of Bristol-Myers Squibb (NYSE:BMY)

City State Bank cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,000 shares of the biopharmaceutical company’s stock after selling 670 shares during the quarter. City State Bank’s holdings in Bristol-Myers Squibb were worth $509,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Trust Co. of Toledo NA OH raised its holdings in shares of Bristol-Myers Squibb by 21.8% during the fourth quarter. Trust Co. of Toledo NA OH now owns 46,679 shares of the biopharmaceutical company’s stock valued at $2,640,000 after purchasing an additional 8,341 shares during the period. Fiduciary Alliance LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $253,000. Aprio Wealth Management LLC boosted its holdings in Bristol-Myers Squibb by 72.9% in the fourth quarter. Aprio Wealth Management LLC now owns 8,282 shares of the biopharmaceutical company’s stock worth $468,000 after acquiring an additional 3,493 shares in the last quarter. Czech National Bank increased its holdings in shares of Bristol-Myers Squibb by 6.5% during the fourth quarter. Czech National Bank now owns 439,749 shares of the biopharmaceutical company’s stock valued at $24,872,000 after acquiring an additional 26,747 shares in the last quarter. Finally, West Oak Capital LLC raised its position in shares of Bristol-Myers Squibb by 2,608.1% during the fourth quarter. West Oak Capital LLC now owns 40,350 shares of the biopharmaceutical company’s stock worth $2,282,000 after purchasing an additional 38,860 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMY has been the subject of several recent research reports. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. 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 report on Wednesday, October 9th. Finally, Wolfe Research started coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $56.27.

Bristol-Myers Squibb Stock Performance

BMY traded down $0.38 during trading hours on Monday, hitting $55.45. The stock had a trading volume of 1,643,792 shares, compared to its average volume of 8,837,206. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The company’s fifty day simple moving average is $57.44 and its 200 day simple moving average is $51.56. The stock has a market cap of $112.46 billion, a PE ratio of -15.45, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45. 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 posted its quarterly 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. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.47%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -69.08%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were acquired 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

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.