Plimoth Trust Co. LLC Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Plimoth Trust Co. LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,764 shares of the biopharmaceutical company’s stock after selling 390 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Bristol-Myers Squibb were worth $1,683,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management increased its holdings in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $0.92 during mid-day trading on Wednesday, hitting $59.68. 892,352 shares of the company were exchanged, compared to its average volume of 9,375,103. 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 has a 50 day simple moving average of $57.56 and a 200-day simple moving average of $52.97. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10. The firm has a market cap of $121.05 billion, a price-to-earnings ratio of -16.63, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released 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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the company earned $2.00 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BMY has been the topic of several recent research reports. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the company from $63.00 to $70.00 in a research report on Monday, December 16th. BMO Capital Markets upped their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. 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 research report on Tuesday, November 12th. Finally, Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.60.

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.