Gables Capital Management Inc. Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Gables Capital Management Inc. trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,659 shares of the biopharmaceutical company’s stock after selling 900 shares during the quarter. Gables Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $433,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Donaldson Capital Management LLC grew its stake in Bristol-Myers Squibb by 61.7% during the fourth quarter. Donaldson Capital Management LLC now owns 59,395 shares of the biopharmaceutical company’s stock worth $3,359,000 after buying an additional 22,653 shares during the period. SoundView Advisors Inc. purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $214,000. Miller Financial Services LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $990,000. Sage Mountain Advisors LLC grew its stake in Bristol-Myers Squibb by 49.1% during the fourth quarter. Sage Mountain Advisors LLC now owns 7,963 shares of the biopharmaceutical company’s stock worth $450,000 after buying an additional 2,621 shares during the period. Finally, Dearborn Partners LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $212,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. 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 research note on Monday, December 16th. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets upped their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Trading Up 3.1 %

BMY opened at $63.00 on Tuesday. The stock has a market capitalization of $127.85 billion, a PE ratio of -14.25, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.16. The firm’s fifty day moving average price is $57.53 and its 200 day moving average price is $55.28. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.94%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by corporate insiders.

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.