Cadence Bank Has $8.89 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Cadence Bank raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 171,799 shares of the biopharmaceutical company’s stock after acquiring an additional 2,681 shares during the quarter. Cadence Bank’s holdings in Bristol-Myers Squibb were worth $8,889,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Reston Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the third quarter worth $25,000. Hollencrest Capital Management raised its position in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on BMY. BMO Capital Markets upped their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. UBS Group increased their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley boosted their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $54.07.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the 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 completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $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 currently owned by insiders.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $58.73 on Wednesday. The firm has a market cap of $119.11 billion, a PE ratio of -16.36, a PEG ratio of 15.79 and a beta of 0.44. 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 company’s 50 day moving average price is $54.02 and its two-hundred day moving average price is $47.97. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the company posted $2.00 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.09%. Bristol-Myers Squibb’s payout ratio is currently -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.