Baldwin Investment Management LLC Trims Position in Bristol-Myers Squibb (NYSE:BMY)

Baldwin Investment Management LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,149 shares of the biopharmaceutical company’s stock after selling 700 shares during the quarter. Baldwin Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $577,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kennedy Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth $2,588,000. Hancock Whitney Corp boosted its holdings in shares of Bristol-Myers Squibb by 5.9% in the first quarter. Hancock Whitney Corp now owns 24,555 shares of the biopharmaceutical company’s stock valued at $1,332,000 after acquiring an additional 1,365 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth about $157,000. Atria Investments Inc raised its holdings in Bristol-Myers Squibb by 13.3% during the first quarter. Atria Investments Inc now owns 138,838 shares of the biopharmaceutical company’s stock worth $7,536,000 after purchasing an additional 16,270 shares in the last quarter. Finally, First City Capital Management Inc. lifted its position in Bristol-Myers Squibb by 4.6% in the first quarter. First City Capital Management Inc. now owns 26,732 shares of the biopharmaceutical company’s stock valued at $1,450,000 after purchasing an additional 1,171 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $59.27 on Thursday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The stock has a fifty day moving average of $54.21 and a two-hundred day moving average of $48.05. The company has a market capitalization of $120.21 billion, a price-to-earnings ratio of -16.51, a PEG ratio of 15.77 and a beta of 0.44.

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, beating 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 firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the company posted $2.00 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS 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. 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 4.05%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BMY. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, UBS Group raised their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.07.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the 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. The trade was 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 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.