Bank of Hawaii Has $870,000 Stake in Bristol-Myers Squibb (NYSE:BMY)

Bank of Hawaii trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 4.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,815 shares of the biopharmaceutical company’s stock after selling 851 shares during the quarter. Bank of Hawaii’s holdings in Bristol-Myers Squibb were worth $870,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $25,000. Hollencrest Capital Management boosted its position in 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 buying an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter valued at $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in 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 worth $31,000 after purchasing an additional 549 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Trading Up 1.1 %

NYSE BMY opened at $58.87 on Monday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock’s 50 day moving average price is $53.66 and its two-hundred day moving average price is $47.77. The stock has a market capitalization of $119.40 billion, a price-to-earnings ratio of -16.40, a PEG ratio of 15.62 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the prior year, the company posted $2.00 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.08%. Bristol-Myers Squibb’s payout ratio is presently -66.85%.

Insider Activity at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, 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. Insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

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.