Stone Point Wealth LLC Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Stone Point Wealth LLC lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,440 shares of the biopharmaceutical company’s stock after selling 800 shares during the quarter. Stone Point Wealth LLC’s holdings in Bristol-Myers Squibb were worth $437,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Comprehensive Financial Consultants Institutional Inc. lifted its position in shares of Bristol-Myers Squibb by 3.1% during the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 22,540 shares of the biopharmaceutical company’s stock worth $1,166,000 after buying an additional 683 shares during the last quarter. Smith Thornton Advisors LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $202,000. Verity Asset Management Inc. raised its position in Bristol-Myers Squibb by 93.9% in the 3rd quarter. Verity Asset Management Inc. now owns 30,342 shares of the biopharmaceutical company’s stock valued at $1,570,000 after purchasing an additional 14,694 shares during the last quarter. Lewis Asset Management LLC raised its position in Bristol-Myers Squibb by 10.1% in the 3rd quarter. Lewis Asset Management LLC now owns 7,215 shares of the biopharmaceutical company’s stock valued at $373,000 after purchasing an additional 662 shares during the last quarter. Finally, Sittner & Nelson LLC raised its position in Bristol-Myers Squibb by 39.4% in the 3rd quarter. Sittner & Nelson LLC now owns 16,715 shares of the biopharmaceutical company’s stock valued at $865,000 after purchasing an additional 4,726 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of several research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Jefferies Financial Group upped their price target 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. UBS Group upped their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets upped their price target on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $54.57 on Friday. 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 fifty-two week low of $39.35 and a fifty-two week high of $56.80. The stock has a market cap of $110.68 billion, a PE ratio of -15.25, a price-to-earnings-growth ratio of 12.39 and a beta of 0.44. The firm’s fifty day simple moving average is $51.69 and its 200-day simple moving average is $46.72.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the company posted $2.00 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts expect that Bristol-Myers Squibb will post 0.9 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.40%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Activity at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the 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 directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Phil M. Holzer sold 700 shares of the 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 directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 0.00 % increase in their position. 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.