Prime Capital Investment Advisors LLC Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

Prime Capital Investment Advisors LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,168 shares of the biopharmaceutical company’s stock after selling 1,991 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,613,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BMY. M&G Plc purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $392,608,000. Mizuho Markets Americas LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth $11,931,000. First Foundation Advisors raised its position in Bristol-Myers Squibb by 20.1% during the first quarter. First Foundation Advisors now owns 3,270 shares of the biopharmaceutical company’s stock worth $177,000 after acquiring an additional 548 shares during the period. Te Ahumairangi Investment Management Ltd raised its position in shares of Bristol-Myers Squibb by 2.9% during the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 149,957 shares of the biopharmaceutical company’s stock worth $8,132,000 after purchasing an additional 4,250 shares during the last quarter. Finally, Nicolet Advisory Services LLC lifted its position in shares of Bristol-Myers Squibb by 62.5% in the first quarter. Nicolet Advisory Services LLC now owns 12,600 shares of the biopharmaceutical company’s stock valued at $650,000 after acquiring an additional 4,844 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Trading Up 0.1 %

BMY opened at $58.49 on Friday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock has a market capitalization of $118.63 billion, a price-to-earnings ratio of -16.24, a PEG ratio of 21.34 and a beta of 0.44. The business has a fifty day moving average price of $52.41 and a 200 day moving average price of $47.07. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its 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 firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the firm earned $2.00 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.10%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BMY shares. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday. UBS Group upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $73.00 in a research note on Tuesday. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $54.07.

About Bristol-Myers Squibb

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.