CWA Asset Management Group LLC Makes New $4.51 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

CWA Asset Management Group LLC purchased a new position in Bristol-Myers Squibb (NYSE:BMY) during the third quarter, Holdings Channel reports. The fund purchased 87,192 shares of the biopharmaceutical company’s stock, valued at approximately $4,511,000.

A number of other large investors have also bought and sold shares of BMY. Leavell Investment Management Inc. increased its stake in shares of Bristol-Myers Squibb by 62.8% during the third quarter. Leavell Investment Management Inc. now owns 36,426 shares of the biopharmaceutical company’s stock valued at $1,885,000 after buying an additional 14,054 shares during the period. Fiera Capital Corp boosted its position in shares of Bristol-Myers Squibb by 11.2% during the third quarter. Fiera Capital Corp now owns 9,511 shares of the biopharmaceutical company’s stock valued at $492,000 after purchasing an additional 961 shares in the last quarter. Hollencrest Capital Management boosted its position in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $257,000. Finally, Quantum Private Wealth LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $213,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction that occurred on 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 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 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the firm’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 owns 11,760 shares of the company’s stock, valued at approximately $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 owned by company insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $54.16 on Friday. The stock has a market cap of $109.85 billion, a PE ratio of -15.09, a price-to-earnings-growth ratio of 12.39 and a beta of 0.44. The business has a 50-day simple moving average of $51.87 and a 200-day simple moving average of $46.81. 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 has a 52-week low of $39.35 and a 52-week high of $56.80.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous 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, equities analysts expect that Bristol-Myers Squibb will post 0.9 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. BMO Capital Markets boosted their target price 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 upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Barclays upped their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lowered their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $53.00.

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.