Essex Savings Bank Has $986,000 Holdings in Bristol-Myers Squibb (NYSE:BMY)

Essex Savings Bank raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,432 shares of the biopharmaceutical company’s stock after buying an additional 733 shares during the quarter. Essex Savings Bank’s holdings in Bristol-Myers Squibb were worth $986,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Pinnacle Bancorp Inc. increased its holdings in shares of Bristol-Myers Squibb by 23.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 3,176 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 600 shares during the period. Armstrong Advisory Group Inc. raised its holdings in Bristol-Myers Squibb by 3.7% in the 4th quarter. Armstrong Advisory Group Inc. now owns 6,148 shares of the biopharmaceutical company’s stock valued at $348,000 after acquiring an additional 218 shares in the last quarter. Burney Co. lifted its position in shares of Bristol-Myers Squibb by 4.2% in the 4th quarter. Burney Co. now owns 12,753 shares of the biopharmaceutical company’s stock worth $721,000 after acquiring an additional 516 shares during the period. Laurel Wealth Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 3.3% in the fourth quarter. Laurel Wealth Advisors LLC now owns 7,450 shares of the biopharmaceutical company’s stock valued at $421,000 after purchasing an additional 240 shares in the last quarter. Finally, Acropolis Investment Management LLC lifted its stake in Bristol-Myers Squibb by 39.1% during the fourth quarter. Acropolis Investment Management LLC now owns 34,009 shares of the biopharmaceutical company’s stock worth $1,924,000 after purchasing an additional 9,564 shares during the period. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on BMY. UBS Group increased their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Wolfe Research began coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $56.27.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Trading Up 0.4 %

NYSE:BMY opened at $55.96 on Thursday. 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. The firm has a market capitalization of $113.50 billion, a price-to-earnings ratio of -15.59, a PEG ratio of 15.20 and a beta of 0.45. The business’s 50-day moving average price is $57.44 and its two-hundred day moving average price is $51.76.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The company 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 revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $2.00 earnings per share. On average, equities analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

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.