Arvest Bank Trust Division Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Arvest Bank Trust Division trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,453 shares of the biopharmaceutical company’s stock after selling 867 shares during the period. Arvest Bank Trust Division’s holdings in Bristol-Myers Squibb were worth $1,836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in BMY. Norges Bank purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $1,989,525,000. Wellington Management Group LLP raised its position in shares of Bristol-Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after buying an additional 5,827,317 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth about $257,618,000. Schroder Investment Management Group raised its stake in shares of Bristol-Myers Squibb by 49.7% during the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after acquiring an additional 3,787,075 shares in the last quarter. Finally, Independent Franchise Partners LLP grew its stake in shares of Bristol-Myers Squibb by 20.8% during the fourth quarter. Independent Franchise Partners LLP now owns 17,129,229 shares of the biopharmaceutical company’s stock valued at $968,829,000 after buying an additional 2,944,879 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.07% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY opened at $49.33 on Thursday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The company has a market cap of $100.37 billion, a price-to-earnings ratio of -11.16, a PEG ratio of 2.07 and a beta of 0.41. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company’s 50 day moving average is $57.24 and its 200 day moving average is $56.68.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.03%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BMY. UBS Group cut their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Cantor Fitzgerald raised their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Citigroup increased their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $57.67.

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.