Pinnacle Financial Partners Inc Sells 2,125 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pinnacle Financial Partners Inc reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 361,318 shares of the biopharmaceutical company’s stock after selling 2,125 shares during the period. Pinnacle Financial Partners Inc’s holdings in Bristol-Myers Squibb were worth $19,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Lipe & Dalton boosted its holdings in Bristol-Myers Squibb by 0.4% in the 4th quarter. Lipe & Dalton now owns 56,769 shares of the biopharmaceutical company’s stock valued at $3,211,000 after purchasing an additional 208 shares during the period. Cowa LLC boosted its holdings in Bristol-Myers Squibb by 42.0% in the 4th quarter. Cowa LLC now owns 16,970 shares of the biopharmaceutical company’s stock valued at $960,000 after purchasing an additional 5,017 shares during the period. Redmond Asset Management LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $228,000. Cypress Capital LLC boosted its holdings in Bristol-Myers Squibb by 25.6% in the 4th quarter. Cypress Capital LLC now owns 47,588 shares of the biopharmaceutical company’s stock valued at $2,692,000 after purchasing an additional 9,693 shares during the period. Finally, Navellier & Associates Inc. lifted its holdings in shares of Bristol-Myers Squibb by 40.2% during the 4th quarter. Navellier & Associates Inc. now owns 14,156 shares of the biopharmaceutical company’s stock worth $801,000 after acquiring an additional 4,056 shares during the period. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BMY. Wolfe Research began coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating for the company. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Finally, Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $55.85 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The firm has a market cap of $113.33 billion, a P/E ratio of -12.63, a PEG ratio of 2.04 and a beta of 0.45. The firm’s 50 day moving average price is $56.99 and its two-hundred day moving average price is $54.30.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a $0.62 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

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.