Montecito Bank & Trust Boosts Stake in Bristol-Myers Squibb Co (NYSE:BMY)

Montecito Bank & Trust lifted its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 3.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,097 shares of the biopharmaceutical company’s stock after purchasing an additional 801 shares during the period. Montecito Bank & Trust’s holdings in Bristol-Myers Squibb were worth $1,354,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Financial Advantage Inc. boosted its stake in Bristol-Myers Squibb by 0.7% in the third quarter. Financial Advantage Inc. now owns 73,601 shares of the biopharmaceutical company’s stock valued at $3,732,000 after acquiring an additional 487 shares in the last quarter. BlackRock Inc. boosted its holdings in Bristol-Myers Squibb by 6.7% in the 2nd quarter. BlackRock Inc. now owns 114,798,394 shares of the biopharmaceutical company’s stock valued at $5,206,108,000 after purchasing an additional 7,178,698 shares during the last quarter. Cutler Investment Counsel LLC raised its stake in shares of Bristol-Myers Squibb by 25.4% in the 3rd quarter. Cutler Investment Counsel LLC now owns 183,435 shares of the biopharmaceutical company’s stock valued at $9,302,000 after acquiring an additional 37,150 shares during the period. Premier Asset Management LLC raised its stake in shares of Bristol-Myers Squibb by 15.1% in the 3rd quarter. Premier Asset Management LLC now owns 5,364 shares of the biopharmaceutical company’s stock valued at $272,000 after acquiring an additional 703 shares during the period. Finally, Keeley Teton Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $214,000. Hedge funds and other institutional investors own 83.35% of the company’s stock.

A number of equities research analysts have recently issued reports on BMY shares. Wolfe Research set a $66.00 price target on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley started coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $60.00 price target on the stock. Mizuho started coverage on shares of Bristol-Myers Squibb in a research note on Monday, November 25th. They issued a “buy” rating on the stock. Bank of America started coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, October 16th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Argus raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $61.69.

In other Bristol-Myers Squibb news, SVP John E. Elicker sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.66, for a total transaction of $849,900.00. Following the sale, the senior vice president now directly owns 74,471 shares of the company’s stock, valued at approximately $4,219,526.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Louis S. Schmukler sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $56.56, for a total transaction of $1,414,000.00. Following the sale, the insider now directly owns 31,963 shares in the company, valued at $1,807,827.28. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Shares of Bristol-Myers Squibb stock opened at $67.43 on Wednesday. The company has a market cap of $108.71 billion, a P/E ratio of 19.43, a PEG ratio of 0.82 and a beta of 0.73. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.72 and a current ratio of 3.83. Bristol-Myers Squibb Co has a one year low of $42.48 and a one year high of $67.62. The firm has a fifty day moving average of $63.67 and a two-hundred day moving average of $53.66.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.11. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter last year, the firm posted $1.09 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts predict that Bristol-Myers Squibb Co will post 4.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.45 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a yield of 2.67%. The ex-dividend date is Thursday, January 2nd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 45.23%.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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