Raleigh Capital Management Inc. Has $2.23 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Raleigh Capital Management Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,439 shares of the biopharmaceutical company’s stock after selling 3,041 shares during the period. Bristol-Myers Squibb accounts for about 0.9% of Raleigh Capital Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Raleigh Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,231,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 14.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,695 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 703 shares during the period. Public Sector Pension Investment Board lifted its position in Bristol-Myers Squibb by 71.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 77,950 shares of the biopharmaceutical company’s stock worth $3,237,000 after acquiring an additional 32,407 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at about $636,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Bristol-Myers Squibb by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 388,221 shares of the biopharmaceutical company’s stock worth $16,123,000 after purchasing an additional 144,467 shares during the period. Finally, Fred Alger Management LLC lifted its position in shares of Bristol-Myers Squibb by 9.9% during the 2nd quarter. Fred Alger Management LLC now owns 41,496 shares of the biopharmaceutical company’s stock worth $1,723,000 after purchasing an additional 3,726 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade 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 insiders.

Analysts Set New Price Targets

BMY has been the topic of several recent analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Morgan Stanley upped their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Citigroup raised their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Finally, Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of BMY stock opened at $57.11 on Thursday. The company has a market capitalization of $115.83 billion, a P/E ratio of -15.91, a P/E/G ratio of 2.02 and a beta of 0.45. The firm has a 50-day moving average price of $57.39 and a 200 day moving average price of $52.36. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly 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. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $2.00 EPS. Research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share 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. Shareholders of record on Friday, January 3rd will be paid a $0.62 dividend. 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.34%. Bristol-Myers Squibb’s payout ratio is currently -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.