Grove Bank & Trust Acquires 1,240 Shares of Bristol-Myers Squibb (NYSE:BMY)

Grove Bank & Trust increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,143 shares of the biopharmaceutical company’s stock after acquiring an additional 1,240 shares during the quarter. Grove Bank & Trust’s holdings in Bristol-Myers Squibb were worth $835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. LGT Financial Advisors LLC lifted its holdings in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $34,000. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $39,000. Finally, Fairman Group LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

BMY stock traded up $0.29 during trading on Monday, hitting $52.49. 2,089,287 shares of the company’s stock traded hands, compared to its average volume of 14,857,720. The stock has a fifty day moving average price of $49.75 and a two-hundred day moving average price of $46.34. The stock has a market capitalization of $106.40 billion, a price-to-earnings ratio of -16.84, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $57.65.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 earnings per share. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.57%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BMY. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. BMO Capital Markets restated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Jefferies Financial Group increased their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Finally, Barclays raised their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.