First Citizens Bank & Trust Co. Has $6.11 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

First Citizens Bank & Trust Co. cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,080 shares of the biopharmaceutical company’s stock after selling 9,397 shares during the period. First Citizens Bank & Trust Co.’s holdings in Bristol-Myers Squibb were worth $6,113,000 as of its most recent SEC filing.

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

Bristol-Myers Squibb Trading Up 0.9 %

Shares of BMY opened at $59.68 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The firm has a market capitalization of $121.05 billion, a PE ratio of -16.63, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45. The stock’s fifty day simple moving average is $57.47 and its 200-day simple moving average is $52.54.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the firm posted $2.00 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a $0.62 dividend. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.16%. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Citigroup boosted their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley boosted their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $56.27.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated 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. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

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.