Bristol-Myers Squibb (NYSE:BMY) Stock Holdings Lifted by Coastline Trust Co

Coastline Trust Co increased its position in Bristol-Myers Squibb (NYSE:BMY) by 23.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,592 shares of the biopharmaceutical company’s stock after purchasing an additional 1,830 shares during the period. Coastline Trust Co’s holdings in Bristol-Myers Squibb were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares in the last quarter. Primecap Management Co. CA grew its stake in Bristol-Myers Squibb by 1.0% during the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after acquiring an additional 225,197 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Bristol-Myers Squibb by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after purchasing an additional 735,613 shares during the period. Independent Franchise Partners LLP lifted its position in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after purchasing an additional 556,295 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in Bristol-Myers Squibb by 15.0% during the second quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after purchasing an additional 1,840,424 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $56.22 on Friday. The company has a market cap of $114.02 billion, a price-to-earnings ratio of -15.66, a PEG ratio of 15.83 and a beta of 0.44. The business has a 50 day moving average price of $52.73 and a 200 day moving average price of $47.25. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the business earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Analysts Set New Price Targets

BMY has been the subject of a number of research analyst reports. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Morgan Stanley increased their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. UBS Group upped their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays lifted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group raised their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $54.07.

Insider Activity at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were 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. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were acquired 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 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. 0.09% of the stock is owned by corporate insiders.

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.