Grimes & Company Inc. Cuts Position in Bristol-Myers Squibb (NYSE:BMY)

Grimes & Company Inc. lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 436,001 shares of the biopharmaceutical company’s stock after selling 9,507 shares during the quarter. Bristol-Myers Squibb accounts for about 0.7% of Grimes & Company Inc.’s portfolio, making the stock its 29th largest position. Grimes & Company Inc.’s holdings in Bristol-Myers Squibb were worth $24,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 3.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 95,955 shares of the biopharmaceutical company’s stock worth $5,427,000 after buying an additional 3,560 shares during the period. Accel Wealth Management grew its position in shares of Bristol-Myers Squibb by 6.2% in the fourth quarter. Accel Wealth Management now owns 4,674 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 271 shares during the last quarter. Carr Financial Group Corp boosted its position in Bristol-Myers Squibb by 8.4% during the fourth quarter. Carr Financial Group Corp now owns 4,643 shares of the biopharmaceutical company’s stock worth $263,000 after acquiring an additional 361 shares during the last quarter. CX Institutional boosted its position in Bristol-Myers Squibb by 2.5% during the fourth quarter. CX Institutional now owns 135,290 shares of the biopharmaceutical company’s stock worth $7,652,000 after acquiring an additional 3,255 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of Bristol-Myers Squibb by 117.1% in the 4th quarter. Sound Income Strategies LLC now owns 6,014 shares of the biopharmaceutical company’s stock valued at $340,000 after purchasing an additional 3,244 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.9 %

Shares of NYSE BMY opened at $59.68 on Friday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $121.05 billion, a price-to-earnings ratio of -16.63, a PEG ratio of 2.02 and a beta of 0.45. The business has a 50-day moving average of $57.47 and a 200-day moving average of $52.54.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share 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 paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.16%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BMY shares. Morgan Stanley raised 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. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Finally, Bank of America restated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Two 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 MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $56.27.

Insider Transactions at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, 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. 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.