Bristol-Myers Squibb (NYSE:BMY) Position Trimmed by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 4.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 33,748 shares of the biopharmaceutical company’s stock after selling 1,572 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Bristol-Myers Squibb were worth $1,909,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. State Street Corp boosted its stake in Bristol-Myers Squibb by 1.6% in the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after acquiring an additional 1,451,214 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Bristol-Myers Squibb by 3.3% during 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 purchasing an additional 1,968,729 shares during the period. FMR LLC grew its stake in Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after buying an additional 4,275,787 shares during the last quarter. Geode Capital Management LLC increased its position in Bristol-Myers Squibb by 2.5% in the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after buying an additional 1,036,495 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Bristol-Myers Squibb by 3.8% during the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after acquiring an additional 735,613 shares during the period. Institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY opened at $56.35 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a market cap of $114.30 billion, a PE ratio of -15.70, a P/E/G ratio of 1.95 and a beta of 0.45. The business has a fifty day simple moving average of $57.53 and a 200-day simple moving average of $51.92. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week 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 for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $11.26 billion. During the same quarter last year, the business posted $2.00 EPS. Bristol-Myers Squibb’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 4.40%. The ex-dividend date 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 -69.08%.

Analysts Set New Price Targets

BMY has been the topic of a number of analyst reports. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. 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 for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.27.

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.