Franklin Street Advisors Inc. NC Boosts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Franklin Street Advisors Inc. NC grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7,223.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 347,402 shares of the biopharmaceutical company’s stock after buying an additional 342,658 shares during the quarter. Bristol-Myers Squibb accounts for 1.3% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 26th largest position. Franklin Street Advisors Inc. NC’s holdings in Bristol-Myers Squibb were worth $19,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BMY. MGO One Seven LLC raised its position in Bristol-Myers Squibb by 7.2% in the second quarter. MGO One Seven LLC now owns 24,427 shares of the biopharmaceutical company’s stock valued at $1,014,000 after purchasing an additional 1,632 shares during the period. Angeles Wealth Management LLC raised its holdings in shares of Bristol-Myers Squibb by 4.5% in the 2nd quarter. Angeles Wealth Management LLC now owns 9,195 shares of the biopharmaceutical company’s stock valued at $382,000 after buying an additional 392 shares during the period. HHM Wealth Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 53.5% in the 2nd quarter. HHM Wealth Advisors LLC now owns 3,018 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 1,052 shares during the period. Perritt Capital Management Inc raised its holdings in shares of Bristol-Myers Squibb by 17.0% in the 2nd quarter. Perritt Capital Management Inc now owns 8,832 shares of the biopharmaceutical company’s stock valued at $367,000 after buying an additional 1,285 shares during the period. Finally, Qsemble Capital Management LP purchased a new stake in Bristol-Myers Squibb during the 2nd quarter worth about $1,054,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BMY. Barclays upped their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. UBS Group upped their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, TD Cowen lifted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.27.

Bristol-Myers Squibb Stock Down 0.9 %

NYSE BMY traded down $0.53 during trading on Friday, hitting $56.28. 3,692,550 shares of the company traded hands, compared to its average volume of 9,071,053. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The business has a fifty day simple moving average of $57.41 and a 200 day simple moving average of $51.34. The company has a market capitalization of $114.15 billion, a P/E ratio of -15.68, a PEG ratio of 15.20 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results 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 business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the business earned $2.00 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.41%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -69.08%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the company’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 sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

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.