KG&L Capital Management LLC Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

KG&L Capital Management LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 49.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,692 shares of the biopharmaceutical company’s stock after selling 15,435 shares during the period. KG&L Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $889,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BMY. Reston Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter valued at about $25,000. Hollencrest Capital Management raised its stake in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC increased its holdings in Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays raised their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. TD Cowen raised their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. UBS Group raised their price objective 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. Finally, Morgan Stanley upped their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $56.60.

Bristol-Myers Squibb Stock Down 0.5 %

Shares of NYSE BMY opened at $58.86 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The company has a market capitalization of $119.38 billion, a price-to-earnings ratio of -16.40, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. 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 business has a 50-day moving average of $57.60 and a two-hundred day moving average of $53.19.

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

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.21%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Insider Buying and Selling

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 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 trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by company 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.