Hancock Whitney Corp Buys 294,717 Shares of Bristol-Myers Squibb (NYSE:BMY)

Hancock Whitney Corp raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1,213.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,008 shares of the biopharmaceutical company’s stock after purchasing an additional 294,717 shares during the period. Hancock Whitney Corp’s holdings in Bristol-Myers Squibb were worth $16,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC lifted its position 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 worth $289,000 after buying an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after acquiring an additional 11,387 shares during the last quarter. Graypoint LLC boosted its stake in shares of Bristol-Myers Squibb by 29.4% during the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock worth $584,000 after purchasing an additional 2,563 shares during the period. Xponance Inc. grew its holdings in Bristol-Myers Squibb by 8.8% during the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after purchasing an additional 25,543 shares during the last quarter. Finally, Plato Investment Management Ltd raised its position in Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after purchasing an additional 21,041 shares during the period. 76.41% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup boosted their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Morgan Stanley upped their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Finally, Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $59.23 on Monday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a market capitalization of $120.13 billion, a price-to-earnings ratio of -16.49, a PEG ratio of 15.79 and a beta of 0.44. The stock’s 50-day simple moving average is $53.66 and its 200-day simple moving average is $47.77.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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. The business 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $2.00 earnings per share. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.05%. Bristol-Myers Squibb’s dividend 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.