Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,937 shares of the biopharmaceutical company’s stock after selling 2,345 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Bristol-Myers Squibb were worth $2,259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BMY. Lantz Financial LLC increased its position in Bristol-Myers Squibb by 17.4% during the second quarter. Lantz Financial LLC now owns 11,799 shares of the biopharmaceutical company’s stock worth $490,000 after purchasing an additional 1,747 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of Bristol-Myers Squibb by 1.0% in the 2nd quarter. New York Life Investment Management LLC now owns 321,185 shares of the biopharmaceutical company’s stock worth $13,339,000 after buying an additional 3,261 shares during the period. Chris Bulman Inc acquired a new position in Bristol-Myers Squibb in the second quarter valued at $48,000. Counterweight Ventures LLC grew its position in Bristol-Myers Squibb by 8.2% during the second quarter. Counterweight Ventures LLC now owns 26,073 shares of the biopharmaceutical company’s stock valued at $1,083,000 after acquiring an additional 1,971 shares during the period. Finally, Kerusso Capital Management LLC acquired a new stake in Bristol-Myers Squibb during the second quarter worth about $1,838,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded up $0.11 during trading on Monday, reaching $56.68. The company had a trading volume of 9,177,305 shares, compared to its average volume of 8,445,626. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a market capitalization of $114.96 billion, a PE ratio of -15.79, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45. The firm’s fifty day moving average is $57.14 and its 200 day moving average is $51.04.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the firm earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.38%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BMY shares. UBS Group boosted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating for the company. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.64.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now 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 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.