Park Avenue Securities LLC Purchases 13,952 Shares of Bristol-Myers Squibb (NYSE:BMY)

Park Avenue Securities LLC grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 32.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,806 shares of the biopharmaceutical company’s stock after purchasing an additional 13,952 shares during the period. Park Avenue Securities LLC’s holdings in Bristol-Myers Squibb were worth $3,213,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Reston Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $25,000. Hollencrest Capital Management raised its position in shares of Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth about $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth about $29,000. Finally, Valued Wealth Advisors LLC grew its stake 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 buying an additional 549 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the 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 transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This 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.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $56.39 on Friday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The firm has a market cap of $114.37 billion, a PE ratio of -15.71, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45. The firm’s fifty day moving average is $57.45 and its 200-day moving average is $51.79.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 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 for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the company posted $2.00 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.40%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -69.08%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BMY shares. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their target price for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Morgan Stanley upped their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $56.27.

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.