Clifford Swan Investment Counsel LLC Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Clifford Swan Investment Counsel LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 469,648 shares of the biopharmaceutical company’s stock after selling 25,275 shares during the period. Bristol-Myers Squibb makes up approximately 1.6% of Clifford Swan Investment Counsel LLC’s investment portfolio, making the stock its 11th biggest position. Clifford Swan Investment Counsel LLC’s holdings in Bristol-Myers Squibb were worth $33,387,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BMY. Rise Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 16.0% in the second quarter. Rise Advisors LLC now owns 1,007 shares of the biopharmaceutical company’s stock valued at $78,000 after purchasing an additional 139 shares during the period. Cornerstone Wealth Group LLC lifted its stake in shares of Bristol-Myers Squibb by 4.9% in the second quarter. Cornerstone Wealth Group LLC now owns 2,982 shares of the biopharmaceutical company’s stock valued at $230,000 after purchasing an additional 140 shares during the period. Lincoln National Corp lifted its stake in shares of Bristol-Myers Squibb by 0.4% in the third quarter. Lincoln National Corp now owns 36,282 shares of the biopharmaceutical company’s stock valued at $2,579,000 after purchasing an additional 140 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Bristol-Myers Squibb by 0.9% in the third quarter. Global Retirement Partners LLC now owns 15,822 shares of the biopharmaceutical company’s stock valued at $1,226,000 after purchasing an additional 143 shares during the period. Finally, Nicolet Bankshares Inc. raised its position in Bristol-Myers Squibb by 0.6% during the second quarter. Nicolet Bankshares Inc. now owns 23,174 shares of the biopharmaceutical company’s stock worth $1,784,000 after acquiring an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 75.51% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Ann Powell sold 16,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $80.45, for a total transaction of $1,307,312.50. Following the completion of the sale, the executive vice president now directly owns 34,226 shares in the company, valued at $2,753,481.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Bristol-Myers Squibb news, EVP Rupert Vessey sold 45,910 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $78.88, for a total transaction of $3,621,380.80. Following the completion of the sale, the executive vice president now directly owns 57,079 shares in the company, valued at $4,502,391.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann Powell sold 16,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total transaction of $1,307,312.50. Following the sale, the executive vice president now owns 34,226 shares of the company’s stock, valued at $2,753,481.70. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Trading Up 0.1 %

Bristol-Myers Squibb stock traded up $0.09 during trading on Wednesday, reaching $72.43. The company had a trading volume of 781,493 shares, compared to its average volume of 8,047,362. Bristol-Myers Squibb has a 12-month low of $61.86 and a 12-month high of $81.43. The stock’s 50 day moving average price is $75.32 and its two-hundred day moving average price is $73.70. The firm has a market capitalization of $154.00 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.63 and a beta of 0.44. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 1.42.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last released its earnings results on Tuesday, October 25th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.16. Bristol-Myers Squibb had a net margin of 14.29% and a return on equity of 50.30%. The firm had revenue of $11.22 billion during the quarter, compared to the consensus estimate of $11.18 billion. During the same period in the previous year, the firm earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts expect that Bristol-Myers Squibb will post 7.61 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Friday, January 6th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.15%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, January 5th. Bristol-Myers Squibb’s payout ratio is presently 74.27%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BMY shares. Cantor Fitzgerald started coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, January 17th. They set an “overweight” rating and a $95.00 target price for the company. Barclays cut their target price on shares of Bristol-Myers Squibb from $69.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 12th. Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. Guggenheim cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating in a research report on Monday, October 10th. Finally, Morgan Stanley cut their target price on shares of Bristol-Myers Squibb from $61.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.60.

Bristol-Myers Squibb Company Profile

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.