Principal Financial Group Inc. Has $127.21 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Principal Financial Group Inc. lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 4.4% in the third quarter, HoldingsChannel.com reports. The firm owned 2,458,536 shares of the biopharmaceutical company’s stock after acquiring an additional 102,790 shares during the period. Principal Financial Group Inc.’s holdings in Bristol-Myers Squibb were worth $127,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Graypoint LLC raised its stake in shares of Bristol-Myers Squibb by 29.4% in the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after buying an additional 2,563 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in Bristol-Myers Squibb by 8.7% in the third quarter. Concurrent Investment Advisors LLC now owns 28,164 shares of the biopharmaceutical company’s stock valued at $1,457,000 after acquiring an additional 2,255 shares during the period. Maia Wealth LLC acquired a new position in Bristol-Myers Squibb in the third quarter worth about $211,000. Benchmark Financial Wealth Advisors LLC boosted its holdings in Bristol-Myers Squibb by 5.0% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 19,550 shares of the biopharmaceutical company’s stock valued at $1,012,000 after purchasing an additional 933 shares in the last quarter. Finally, Radnor Capital Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $4,629,000. 76.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The stock was 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 of the company’s stock, valued at $654,091.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The shares were acquired 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 directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. UBS Group boosted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Barclays boosted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $53.00.

Bristol-Myers Squibb Trading Down 1.0 %

BMY stock opened at $54.16 on Friday. 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 twelve month low of $39.35 and a twelve month high of $56.80. The company has a market cap of $109.85 billion, a P/E ratio of -15.09, a PEG ratio of 12.39 and a beta of 0.44. The business has a fifty day moving average of $51.87 and a 200-day moving average of $46.81.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the company posted $2.00 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.9 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

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

Bristol-Myers Squibb 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.