Algert Global LLC Has $5.14 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Algert Global LLC increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1,157.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 99,356 shares of the biopharmaceutical company’s stock after acquiring an additional 91,455 shares during the quarter. Algert Global LLC’s holdings in Bristol-Myers Squibb were worth $5,141,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BMY. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Hollencrest Capital Management grew its position 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 purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb during the third quarter valued at about $28,000. Darwin Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the third quarter worth about $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BMY. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets lifted 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. Finally, TD Cowen increased their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $58.87 on Monday. The stock has a 50-day simple moving average of $53.66 and a 200 day simple moving average of $47.77. The stock has a market capitalization of $119.40 billion, a price-to-earnings ratio of -16.40, a P/E/G ratio of 15.62 and a beta of 0.44. 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 has a 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share 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 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 company’s revenue was up 8.4% on a year-over-year basis. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.08%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $3,395,499.03. This represents 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 corporate insiders.

Bristol-Myers Squibb 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.