Daiwa Securities Group Inc. Has $17.08 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Daiwa Securities Group Inc. raised its position in Bristol-Myers Squibb (NYSE:BMY) by 31.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 330,191 shares of the biopharmaceutical company’s stock after purchasing an additional 78,309 shares during the period. Daiwa Securities Group Inc.’s holdings in Bristol-Myers Squibb were worth $17,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb during the third quarter worth about $25,000. Hollencrest Capital Management raised its stake in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb during the third quarter worth about $28,000. Darwin Wealth Management LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC raised its position in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated 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 represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BMY shares. BMO Capital Markets lifted their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Barclays increased their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Stock Up 1.1 %

Shares of NYSE BMY opened at $58.87 on Monday. The company’s 50 day moving average price is $53.66 and its 200-day moving average price is $47.77. 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 52-week low of $39.35 and a 52-week high of $61.08. The company has a market capitalization of $119.40 billion, a P/E ratio of -16.40, a price-to-earnings-growth ratio of 15.62 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $11.26 billion. During the same quarter in the previous year, the business earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.08%. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

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.