Cornerstone Capital Inc. Has $489,000 Stake in Bristol-Myers Squibb (NYSE:BMY)

Cornerstone Capital Inc. increased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,444 shares of the biopharmaceutical company’s stock after buying an additional 459 shares during the quarter. Cornerstone Capital Inc.’s holdings in Bristol-Myers Squibb were worth $489,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Crestwood Advisors Group LLC grew its stake in Bristol-Myers Squibb by 11.7% in the third quarter. Crestwood Advisors Group LLC now owns 5,857 shares of the biopharmaceutical company’s stock valued at $303,000 after purchasing an additional 612 shares in the last quarter. NorthRock Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 15.1% in the 3rd quarter. NorthRock Partners LLC now owns 9,167 shares of the biopharmaceutical company’s stock valued at $474,000 after buying an additional 1,203 shares during the last quarter. Arthur M. Cohen & Associates LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at $212,000. Capital Management Corp VA increased its holdings in Bristol-Myers Squibb by 15.0% during the third quarter. Capital Management Corp VA now owns 238,379 shares of the biopharmaceutical company’s stock worth $12,334,000 after buying an additional 31,103 shares during the last quarter. Finally, United Advisor Group LLC raised its position in Bristol-Myers Squibb by 112.1% during the third quarter. United Advisor Group LLC now owns 21,394 shares of the biopharmaceutical company’s stock worth $1,107,000 after acquiring an additional 11,307 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BMY. Barclays boosted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Finally, Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Trading Down 0.3 %

Shares of NYSE:BMY traded down $0.17 during trading on Tuesday, reaching $55.28. 1,092,638 shares of the company traded hands, compared to its average volume of 14,404,673. 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 $56.20. The company’s 50 day moving average is $51.41 and its two-hundred day moving average is $46.61.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.00 EPS. As a group, equities research analysts predict that Bristol-Myers Squibb will post 0.83 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.34%. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

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.