Sky Investment Group LLC Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Sky Investment Group LLC lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,828 shares of the biopharmaceutical company’s stock after acquiring an additional 1,370 shares during the quarter. Sky Investment Group LLC’s holdings in Bristol-Myers Squibb were worth $1,121,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LaFleur & Godfrey LLC grew its position in Bristol-Myers Squibb by 3.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 43,551 shares of the biopharmaceutical company’s stock worth $2,463,000 after purchasing an additional 1,487 shares in the last quarter. Zhang Financial LLC boosted its stake in shares of Bristol-Myers Squibb by 42.3% in the 4th quarter. Zhang Financial LLC now owns 5,826 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 1,732 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Bristol-Myers Squibb by 4.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,687 shares of the biopharmaceutical company’s stock valued at $491,000 after acquiring an additional 332 shares in the last quarter. Corundum Group Inc. increased its position in shares of Bristol-Myers Squibb by 67.8% during the fourth quarter. Corundum Group Inc. now owns 43,534 shares of the biopharmaceutical company’s stock valued at $2,462,000 after acquiring an additional 17,596 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in Bristol-Myers Squibb by 178.2% during the fourth quarter. UMB Bank n.a. now owns 205,457 shares of the biopharmaceutical company’s stock worth $11,621,000 after acquiring an additional 131,595 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $56.35 on Tuesday. The firm has a market capitalization of $114.30 billion, a P/E ratio of -15.70, a P/E/G ratio of 1.95 and a beta of 0.45. 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 stock’s 50-day simple moving average is $57.53 and its two-hundred day simple moving average is $52.09. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month 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 analysts’ consensus estimates 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 business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the firm posted $2.00 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate 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. Shareholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.40%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BMY shares. UBS Group raised their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.27.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

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.