Signet Financial Management LLC Has $754,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Signet Financial Management LLC trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 21.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,324 shares of the biopharmaceutical company’s stock after selling 3,633 shares during the quarter. Signet Financial Management LLC’s holdings in Bristol-Myers Squibb were worth $754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BMY. FMR LLC raised its position in Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after purchasing an additional 4,275,787 shares in the last quarter. Jennison Associates LLC increased its position in Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after purchasing an additional 3,425,789 shares in the last quarter. Janus Henderson Group PLC boosted its position in Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after buying an additional 3,107,672 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Bristol-Myers Squibb by 18.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after buying an additional 3,002,418 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after acquiring an additional 1,968,729 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated 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 transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BMY. Wolfe Research began coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the stock from $63.00 to $70.00 in a report on Monday, December 16th. UBS Group lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets lifted their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Stock Down 0.9 %

Bristol-Myers Squibb stock traded down $0.48 during mid-day trading on Monday, reaching $55.35. The stock had a trading volume of 7,108,612 shares, compared to its average volume of 9,632,401. 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’s 50-day simple moving average is $57.44 and its 200-day simple moving average is $51.56. The firm has a market capitalization of $112.26 billion, a PE ratio of -15.42, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.00 earnings per share. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.48%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

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.