Bristol-Myers Squibb (NYSE:BMY) Holdings Trimmed by Park Place Capital Corp

Park Place Capital Corp reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,763 shares of the biopharmaceutical company’s stock after selling 599 shares during the period. Park Place Capital Corp’s holdings in Bristol-Myers Squibb were worth $722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Meridian Management Co. lifted its stake in shares of Bristol-Myers Squibb by 0.6% in the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after purchasing an additional 182 shares during the last quarter. Hollencrest Capital Management lifted its position in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the last quarter. Dunhill Financial LLC lifted its position in Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in Bristol-Myers Squibb by 2.3% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock worth $438,000 after acquiring an additional 192 shares during the last quarter. Finally, Lakewood Asset Management LLC lifted its position in Bristol-Myers Squibb by 0.7% during the 4th quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company’s stock worth $1,520,000 after acquiring an additional 195 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $56.47 on Wednesday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The firm’s 50-day moving average price is $57.42 and its two-hundred day moving average price is $52.33. The stock has a market capitalization of $114.53 billion, a price-to-earnings ratio of -15.71, a P/E/G ratio of 1.98 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 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, topping analysts’ consensus estimates 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 period in the prior year, the business earned $2.00 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.39%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. UBS Group boosted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.27.

Insider Transactions at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

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.