B. Riley Wealth Advisors Inc. Has $8.09 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

B. Riley Wealth Advisors Inc. lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 153,110 shares of the biopharmaceutical company’s stock after selling 9,985 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $8,093,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Exome Asset Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter worth approximately $4,036,000. Birmingham Capital Management Co. Inc. AL grew its holdings in Bristol-Myers Squibb by 6.2% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 47,941 shares of the biopharmaceutical company’s stock worth $2,480,000 after buying an additional 2,800 shares in the last quarter. Inspire Trust Co. N.A. raised its position in Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after buying an additional 29,044 shares during the last quarter. Synovus Financial Corp lifted its stake in Bristol-Myers Squibb by 0.3% during the 3rd quarter. Synovus Financial Corp now owns 260,181 shares of the biopharmaceutical company’s stock valued at $13,462,000 after acquiring an additional 822 shares in the last quarter. Finally, Optimist Retirement Group LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter worth $2,258,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.9 %

BMY opened at $55.77 on Friday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The company has a market cap of $113.11 billion, a PE ratio of -15.53, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45. 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 company has a 50 day moving average of $55.86 and a 200 day moving average of $49.27.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 earnings per share. On average, sell-side analysts expect 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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.45%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s 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 sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on BMY shares. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Citigroup increased their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. UBS Group increased 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. Finally, BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.29.

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.