Archer Investment Corp Increases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Archer Investment Corp raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,313 shares of the biopharmaceutical company’s stock after buying an additional 401 shares during the period. Archer Investment Corp’s holdings in Bristol-Myers Squibb were worth $1,310,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $25,000. Hollencrest Capital Management increased its stake in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares in the last quarter. ESL Trust Services LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth $27,000. Kennebec Savings Bank purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth $28,000. Finally, Valued Wealth Advisors LLC increased its stake in Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 549 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 2.1 %

BMY traded down $1.24 during trading on Friday, hitting $57.26. The stock had a trading volume of 2,134,233 shares, compared to its average volume of 14,377,049. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The stock has a 50 day simple moving average of $52.58 and a two-hundred day simple moving average of $47.15. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The company has a market capitalization of $116.13 billion, a PE ratio of -15.92, a PEG ratio of 15.83 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping 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 business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the firm posted $2.00 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BMY shares. Jefferies Financial Group increased their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Sanford C. Bernstein assumed coverage on shares of 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. Morgan Stanley increased their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.07.

Insider Activity at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by 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.