Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 52.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,824 shares of the biopharmaceutical company’s stock after selling 23,364 shares during the period. Eagle Rock Investment Company LLC’s holdings in Bristol-Myers Squibb were worth $1,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cohen Investment Advisors LLC increased its holdings in Bristol-Myers Squibb by 2.6% during the 4th quarter. Cohen Investment Advisors LLC now owns 8,802 shares of the biopharmaceutical company’s stock worth $498,000 after purchasing an additional 221 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Bristol-Myers Squibb by 65.2% during the fourth quarter. Ritholtz Wealth Management now owns 39,389 shares of the biopharmaceutical company’s stock worth $2,228,000 after buying an additional 15,546 shares in the last quarter. Carnegie Investment Counsel increased its stake in shares of Bristol-Myers Squibb by 3.7% in the fourth quarter. Carnegie Investment Counsel now owns 33,435 shares of the biopharmaceutical company’s stock worth $1,891,000 after buying an additional 1,193 shares during the last quarter. Mirador Capital Partners LP raised its holdings in Bristol-Myers Squibb by 1.7% in the fourth quarter. Mirador Capital Partners LP now owns 47,354 shares of the biopharmaceutical company’s stock valued at $2,678,000 after acquiring an additional 774 shares in the last quarter. Finally, IFS Advisors LLC boosted its stake in Bristol-Myers Squibb by 359.3% during the 4th quarter. IFS Advisors LLC now owns 767 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 600 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $56.39 on Friday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm’s 50 day moving average is $57.45 and its two-hundred day moving average is $51.79. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week 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, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the business earned $2.00 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on 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 owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BMY shares. Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. TD Cowen upped their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Citigroup upped their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.27.

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.