Independent Advisor Alliance Boosts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Independent Advisor Alliance boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,719 shares of the biopharmaceutical company’s stock after purchasing an additional 1,654 shares during the quarter. Independent Advisor Alliance’s holdings in Bristol-Myers Squibb were worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BMY. Kennedy Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at $2,588,000. Ancora Advisors LLC raised its position in shares of Bristol-Myers Squibb by 9.8% during the 1st quarter. Ancora Advisors LLC now owns 40,938 shares of the biopharmaceutical company’s stock valued at $2,220,000 after buying an additional 3,654 shares in the last quarter. Comerica Bank raised its position in shares of Bristol-Myers Squibb by 3.7% during the 1st quarter. Comerica Bank now owns 720,305 shares of the biopharmaceutical company’s stock valued at $39,062,000 after buying an additional 25,716 shares in the last quarter. Hancock Whitney Corp raised its position in shares of Bristol-Myers Squibb by 5.9% during the 1st quarter. Hancock Whitney Corp now owns 24,555 shares of the biopharmaceutical company’s stock valued at $1,332,000 after buying an additional 1,365 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its position in shares of Bristol-Myers Squibb by 9.8% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 10,265 shares of the biopharmaceutical company’s stock valued at $557,000 after buying an additional 912 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Down 0.2 %

Shares of BMY opened at $58.73 on Tuesday. The firm’s 50-day moving average price is $53.83 and its 200-day moving average price is $47.87. The firm has a market capitalization of $119.11 billion, a price-to-earnings ratio of -16.36, a PEG ratio of 15.79 and a beta of 0.44. 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 has a 1-year low of $39.35 and a 1-year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $11.26 billion. During the same period last year, the company posted $2.00 EPS. Bristol-Myers Squibb’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared 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 4.09%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Wolfe Research began coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $54.07.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate 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.