Montecito Bank & Trust Purchases 323 Shares of Bristol-Myers Squibb (NYSE:BMY)

Montecito Bank & Trust increased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,224 shares of the biopharmaceutical company’s stock after acquiring an additional 323 shares during the period. Montecito Bank & Trust’s holdings in Bristol-Myers Squibb were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter worth $25,000. ESL Trust Services LLC purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $27,000. Valued Wealth Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares during the last quarter. LGT Financial Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter worth approximately $34,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was purchased 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 in the company, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was purchased at an average price 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 approximately $3,395,499.03. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets upped their price objective on Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. UBS Group boosted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.00.

Bristol-Myers Squibb Trading Down 1.0 %

Shares of BMY opened at $54.74 on Friday. The firm has a fifty day simple moving average of $51.69 and a two-hundred day simple moving average of $46.72. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.80. The stock has a market capitalization of $111.02 billion, a P/E ratio of -15.25, a PEG ratio of 12.39 and a beta of 0.44. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

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 the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.00 earnings per share. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.9 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -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.