Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Huntington National Bank

Huntington National Bank cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 164,542 shares of the biopharmaceutical company’s stock after selling 1,707 shares during the quarter. Huntington National Bank’s holdings in Bristol-Myers Squibb were worth $8,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC boosted its holdings in Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares during the last quarter. Graypoint LLC boosted its stake in shares of Bristol-Myers Squibb by 29.4% in the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after buying an additional 2,563 shares during the last quarter. Xponance Inc. grew its holdings in Bristol-Myers Squibb by 8.8% during the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after acquiring an additional 25,543 shares during the period. Plato Investment Management Ltd raised its position in Bristol-Myers Squibb by 25.4% during the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after acquiring an additional 21,041 shares in the last quarter. Finally, Meritage Portfolio Management lifted its holdings in Bristol-Myers Squibb by 1,874.9% in the third quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company’s stock valued at $5,602,000 after acquiring an additional 102,782 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BMY shares. Barclays raised 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. UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets increased their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group raised their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Trading Up 0.1 %

BMY opened at $58.49 on Friday. The firm has a market capitalization of $118.63 billion, a price-to-earnings ratio of -16.29, a price-to-earnings-growth ratio of 21.34 and a beta of 0.44. The company’s 50 day simple moving average is $52.41 and its two-hundred day simple moving average is $47.07. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company 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. This represents a $2.40 annualized dividend and a yield of 4.10%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

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.