Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Arvest Investments Inc.

Arvest Investments Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,008 shares of the biopharmaceutical company’s stock after selling 3,644 shares during the quarter. Arvest Investments Inc.’s holdings in Bristol-Myers Squibb were worth $1,397,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Capital International Investors boosted its holdings in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. Primecap Management Co. CA boosted its holdings in Bristol-Myers Squibb by 1.0% in the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after purchasing an additional 225,197 shares during the period. Legal & General Group Plc boosted its holdings in Bristol-Myers Squibb by 3.8% in the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock worth $839,946,000 after purchasing an additional 735,613 shares during the period. Independent Franchise Partners LLP boosted its holdings in Bristol-Myers Squibb by 4.0% in the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after purchasing an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC lifted its stake in Bristol-Myers Squibb by 15.0% in the second quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after buying an additional 1,840,424 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded down $0.57 during midday trading on Friday, hitting $54.14. The company’s stock had a trading volume of 9,218,631 shares, compared to its average volume of 8,783,218. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The stock’s 50-day moving average price is $51.87 and its 200-day moving average price is $46.80. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $56.80. The company has a market capitalization of $109.81 billion, a PE ratio of -15.08, a price-to-earnings-growth ratio of 20.52 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the previous year, the business earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts anticipate that Bristol-Myers Squibb will post 0.9 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business 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. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on BMY. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. BMO Capital Markets raised their target price on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $75.00 to $55.00 in a research note on Friday, October 25th. UBS Group raised their target price on 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, Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.