Miracle Mile Advisors LLC Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Miracle Mile Advisors LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 114,045 shares of the biopharmaceutical company’s stock after purchasing an additional 7,109 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Bristol-Myers Squibb were worth $6,450,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BMY. Inspire Trust Co. N.A. lifted its holdings in Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after purchasing an additional 29,044 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 206 shares during the period. Sheaff Brock Investment Advisors LLC increased its holdings in Bristol-Myers Squibb by 34.3% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after purchasing an additional 11,387 shares during the period. iA Global Asset Management Inc. increased its stake in Bristol-Myers Squibb by 81.3% in the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after purchasing an additional 34,418 shares during the last quarter. Finally, Bellevue Group AG purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at about $1,905,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Citigroup upped their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Barclays upped their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded down $0.48 during mid-day trading on Monday, reaching $55.35. 7,107,591 shares of the company’s stock traded hands, compared to its average volume of 9,632,166. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The stock has a market capitalization of $112.26 billion, a P/E ratio of -15.42, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45. The business’s 50-day moving average price is $57.44 and its 200-day moving average price is $51.56. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.00 earnings per share. Equities analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share 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. Stockholders 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. This represents a $2.48 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

Insider Buying and Selling

In related news, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Phil M. Holzer sold 700 shares of the business’s 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 in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

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.