Keudell Morrison Wealth Management Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Keudell Morrison Wealth Management lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.9% during the third quarter, HoldingsChannel.com reports. The fund owned 22,703 shares of the biopharmaceutical company’s stock after purchasing an additional 1,458 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Bristol-Myers Squibb were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BMY. Csenge Advisory Group grew its position in Bristol-Myers Squibb by 12.0% in the 1st quarter. Csenge Advisory Group now owns 9,484 shares of the biopharmaceutical company’s stock valued at $514,000 after buying an additional 1,018 shares during the last quarter. Advisory Alpha LLC raised its stake in Bristol-Myers Squibb by 73.2% in the 1st quarter. Advisory Alpha LLC now owns 10,048 shares of the biopharmaceutical company’s stock valued at $545,000 after purchasing an additional 4,245 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Bristol-Myers Squibb by 47.0% during the 1st quarter. Advisory Services Network LLC now owns 119,423 shares of the biopharmaceutical company’s stock valued at $6,476,000 after acquiring an additional 38,163 shares during the last quarter. CFO4Life Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth about $233,000. Finally, Empirical Finance LLC boosted its holdings in Bristol-Myers Squibb by 3.2% in the 1st quarter. Empirical Finance LLC now owns 77,242 shares of the biopharmaceutical company’s stock worth $4,189,000 after acquiring an additional 2,429 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

BMY stock traded down $0.30 during trading hours on Thursday, hitting $54.98. 1,429,669 shares of the stock traded hands, compared to its average volume of 14,368,729. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $56.80. The company has a market cap of $111.51 billion, a P/E ratio of -15.40, a P/E/G ratio of 13.14 and a beta of 0.44. The stock has a 50-day simple moving average of $51.69 and a 200 day simple moving average of $46.72.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share 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 business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the company posted $2.00 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts forecast that Bristol-Myers Squibb will post 0.83 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.37%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

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 that occurred on 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 owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BMY shares. TD Cowen upped their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Citigroup lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $53.00.

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.