Diversified Portfolios Inc. trimmed its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 46.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,405 shares of the biopharmaceutical company's stock after selling 3,786 shares during the period. Diversified Portfolios Inc.'s holdings in Bristol-Myers Squibb were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of BMY. New Millennium Group LLC acquired a new stake in Bristol-Myers Squibb in the 2nd quarter worth $31,000. My Personal CFO LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter worth $35,000. Clear Investment Research LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $36,000. Western Pacific Wealth Management LP boosted its position in shares of Bristol-Myers Squibb by 878.6% during the 3rd quarter. Western Pacific Wealth Management LP now owns 548 shares of the biopharmaceutical company's stock valued at $38,000 after acquiring an additional 492 shares in the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $40,000. 75.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Giovanni Caforio sold 240,000 shares of the business's stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $74.65, for a total value of $17,916,000.00. Following the completion of the transaction, the chief executive officer now directly owns 236,104 shares in the company, valued at approximately $17,625,163.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Giovanni Caforio sold 240,000 shares of the company's stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the completion of the transaction, the chief executive officer now directly owns 236,104 shares in the company, valued at approximately $17,625,163.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ann Powell sold 11,183 shares of the company's stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $74.69, for a total transaction of $835,258.27. Following the transaction, the executive vice president now owns 23,043 shares of the company's stock, valued at $1,721,081.67. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $1.11 during midday trading on Friday, hitting $69.31. The company's stock had a trading volume of 8,953,242 shares, compared to its average volume of 8,381,778. Bristol-Myers Squibb has a 1-year low of $65.28 and a 1-year high of $81.43. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.25 and a quick ratio of 1.14. The company has a 50-day moving average price of $70.06 and a two-hundred day moving average price of $72.79. The company has a market cap of $145.78 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 1.48 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last issued its earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.71 by $0.11. The company had revenue of $11.41 billion during the quarter, compared to analysts' expectations of $11.20 billion. Bristol-Myers Squibb had a net margin of 13.71% and a return on equity of 51.60%. The business's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.83 EPS. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 8.06 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, April 6th. Bristol-Myers Squibb's payout ratio is presently 77.29%.

Analyst Ratings Changes

Several analysts have recently weighed in on BMY shares. Atlantic Securities lifted their target price on shares of Bristol-Myers Squibb from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, February 3rd. 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 on the stock. StockNews.com started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, March 16th. They set a "strong-buy" rating on the stock. Morgan Stanley boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "underweight" rating in a research report on Friday, February 3rd. Finally, Jefferies Financial Group initiated coverage on shares of Bristol-Myers Squibb in a research report on Monday, March 6th. They issued a "hold" rating and a $62.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $79.69.

About Bristol-Myers Squibb

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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.

Further Reading

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