First City Capital Management Inc. Boosts Holdings in Bristol-Myers Squibb (NYSE:BMY)

First City Capital Management Inc. increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,164 shares of the biopharmaceutical company’s stock after purchasing an additional 219 shares during the quarter. First City Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,197,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BMY. GAMMA Investing LLC increased its stake in shares of Bristol-Myers Squibb by 22.0% during the fourth quarter. GAMMA Investing LLC now owns 33,418 shares of the biopharmaceutical company’s stock worth $1,890,000 after buying an additional 6,032 shares during the period. Versant Capital Management Inc increased its stake in shares of Bristol-Myers Squibb by 14.0% during the fourth quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company’s stock worth $4,451,000 after acquiring an additional 9,692 shares during the period. Principal Financial Group Inc. boosted its holdings in Bristol-Myers Squibb by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 2,458,536 shares of the biopharmaceutical company’s stock valued at $127,205,000 after purchasing an additional 102,790 shares in the last quarter. Exome Asset Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $4,036,000. Finally, Birmingham Capital Management Co. Inc. AL increased its holdings in shares of Bristol-Myers Squibb by 6.2% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 47,941 shares of the biopharmaceutical company’s stock valued at $2,480,000 after purchasing an additional 2,800 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $0.54 during trading hours on Friday, hitting $56.71. The company had a trading volume of 3,509,544 shares, compared to its average volume of 6,247,758. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The firm has a market capitalization of $115.02 billion, a price-to-earnings ratio of -15.80, a PEG ratio of 15.20 and a beta of 0.45. The firm’s fifty day moving average is $57.04 and its 200 day moving average is $50.79. 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 (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the business earned $2.00 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.37%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company’s stock, 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. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BMY. Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Barclays upped their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. UBS Group upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $55.64.

Bristol-Myers Squibb Company 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.