Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,307 shares of the biopharmaceutical company’s stock after selling 4,529 shares during the period. Goelzer Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $7,144,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BMY. Public Sector Pension Investment Board increased its stake in Bristol-Myers Squibb by 71.2% during the second quarter. Public Sector Pension Investment Board now owns 77,950 shares of the biopharmaceutical company’s stock worth $3,237,000 after purchasing an additional 32,407 shares during the period. Fred Alger Management LLC increased its stake in Bristol-Myers Squibb by 9.9% during the 2nd quarter. Fred Alger Management LLC now owns 41,496 shares of the biopharmaceutical company’s stock worth $1,723,000 after buying an additional 3,726 shares during the period. AQR Capital Management LLC boosted its position in Bristol-Myers Squibb by 14.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,676,296 shares of the biopharmaceutical company’s stock valued at $111,147,000 after buying an additional 327,824 shares during the period. MBB Public Markets I LLC grew its stake in shares of Bristol-Myers Squibb by 208.8% in the second quarter. MBB Public Markets I LLC now owns 189,245 shares of the biopharmaceutical company’s stock worth $7,859,000 after acquiring an additional 127,960 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Bristol-Myers Squibb by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,681,594 shares of the biopharmaceutical company’s stock valued at $69,837,000 after acquiring an additional 40,605 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $59.68 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The firm has a market cap of $121.05 billion, a PE ratio of -16.63, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45. The company’s 50 day simple moving average is $57.40 and its 200-day simple moving average is $52.41.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. The company 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 company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $2.00 EPS. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed 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. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Morgan Stanley raised 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. 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 report on Wednesday, October 9th. Finally, Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $56.27.

Insider Transactions at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The shares were 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 trade represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now 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 disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Company 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.