1ST Source Bank Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

1ST Source Bank cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,007 shares of the biopharmaceutical company’s stock after selling 1,746 shares during the quarter. 1ST Source Bank’s holdings in Bristol-Myers Squibb were worth $1,553,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lantz Financial LLC lifted its holdings in Bristol-Myers Squibb by 17.4% during the second quarter. Lantz Financial LLC now owns 11,799 shares of the biopharmaceutical company’s stock valued at $490,000 after purchasing an additional 1,747 shares in the last quarter. Fiduciary Financial Group LLC purchased a new position in Bristol-Myers Squibb during the second quarter valued at $201,000. Triad Wealth Partners LLC purchased a new position in shares of Bristol-Myers Squibb in the second quarter worth about $79,000. Blue Trust Inc. lifted its stake in shares of Bristol-Myers Squibb by 23.7% in the second quarter. Blue Trust Inc. now owns 17,003 shares of the biopharmaceutical company’s stock worth $706,000 after buying an additional 3,263 shares in the last quarter. Finally, Stanley Laman Group Ltd. lifted its stake in shares of Bristol-Myers Squibb by 42.1% in the second quarter. Stanley Laman Group Ltd. now owns 9,010 shares of the biopharmaceutical company’s stock worth $374,000 after buying an additional 2,670 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the business’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 completion of the transaction, the executive vice president now owns 62,109 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the 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 transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.71 during trading hours on Friday, hitting $55.57. The stock had a trading volume of 1,951,450 shares, compared to its average volume of 14,010,607. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock’s fifty day simple moving average is $55.82 and its 200 day simple moving average is $49.17.

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. The firm had revenue of $11.89 billion for 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%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 earnings per share. As a group, analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be paid a $0.62 dividend. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.46%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BMY. Jefferies Financial Group lifted their price target 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. Citigroup boosted their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $54.29.

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.