Hilltop Holdings Inc. Boosts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Hilltop Holdings Inc. raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 19.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,416 shares of the biopharmaceutical company’s stock after purchasing an additional 5,987 shares during the period. Hilltop Holdings Inc.’s holdings in Bristol-Myers Squibb were worth $1,936,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BMY. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter worth $25,000. Hollencrest Capital Management grew its position in shares of Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the 3rd quarter worth about $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC increased its position in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 2.1 %

NYSE:BMY opened at $58.69 on Wednesday. The firm has a market capitalization of $119.03 billion, a PE ratio of -16.35, a price-to-earnings-growth ratio of 16.08 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock has a 50 day moving average of $54.96 and a 200-day moving average of $48.49.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate 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 company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the business earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. Analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 annualized dividend and a yield of 4.09%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BMY shares. UBS Group boosted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, TD Cowen increased their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $54.07.

Insider Transactions at Bristol-Myers Squibb

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

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.