City Holding Co. Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

City Holding Co. cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 13.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,683 shares of the biopharmaceutical company’s stock after selling 1,809 shares during the quarter. City Holding Co.’s holdings in Bristol-Myers Squibb were worth $661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Reston Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter worth $25,000. Hollencrest Capital Management grew its position in Bristol-Myers Squibb by 61.3% during the 3rd 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 about $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter worth about $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 value of $38,934.00. Following the completion of the sale, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction on 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 purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, 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. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Stock Down 0.0 %

Shares of BMY opened at $56.35 on Tuesday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. 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 stock has a fifty day simple moving average of $57.53 and a two-hundred day simple moving average of $52.09. The company has a market capitalization of $114.30 billion, a PE ratio of -15.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $2.00 earnings per share. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.93 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. Investors of record on Friday, January 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.40%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent research reports. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. BMO Capital Markets increased 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 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.27.

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.