Hanson & Doremus Investment Management boosted its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,325 shares of the biopharmaceutical company’s stock after purchasing an additional 3,297 shares during the period. Bristol-Myers Squibb comprises approximately 0.7% of Hanson & Doremus Investment Management’s holdings, making the stock its 28th largest holding. Hanson & Doremus Investment Management’s holdings in Bristol-Myers Squibb were worth $2,588,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Financial Advantage Inc. increased its stake in shares of Bristol-Myers Squibb by 0.7% in the 3rd quarter. Financial Advantage Inc. now owns 73,601 shares of the biopharmaceutical company’s stock worth $3,732,000 after acquiring an additional 487 shares in the last quarter. BlackRock Inc. increased its stake in shares of Bristol-Myers Squibb by 6.7% during the second quarter. BlackRock Inc. now owns 114,798,394 shares of the biopharmaceutical company’s stock valued at $5,206,108,000 after purchasing an additional 7,178,698 shares in the last quarter. Cutler Investment Counsel LLC lifted its holdings in shares of Bristol-Myers Squibb by 25.4% during the third quarter. Cutler Investment Counsel LLC now owns 183,435 shares of the biopharmaceutical company’s stock valued at $9,302,000 after purchasing an additional 37,150 shares during the last quarter. Premier Asset Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 15.1% during the third quarter. Premier Asset Management LLC now owns 5,364 shares of the biopharmaceutical company’s stock valued at $272,000 after purchasing an additional 703 shares during the last quarter. Finally, Keeley Teton Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $214,000. Institutional investors own 83.02% of the company’s stock.
In related news, insider Louis S. Schmukler sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total value of $1,414,000.00. Following the sale, the insider now owns 31,963 shares in the company, valued at $1,807,827.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John E. Elicker sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $56.66, for a total transaction of $849,900.00. Following the completion of the sale, the senior vice president now owns 74,471 shares in the company, valued at approximately $4,219,526.86. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. Bristol-Myers Squibb had a return on equity of 45.49% and a net margin of 23.53%. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.89 billion. During the same period last year, the firm posted $1.09 earnings per share. Bristol-Myers Squibb’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts predict that Bristol-Myers Squibb Co will post 4.47 EPS for the current fiscal year.
The business 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 $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.41. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 45.23%.
Several research firms recently weighed in on BMY. TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. William Blair reissued a “buy” rating on shares of Bristol-Myers Squibb in a report on Friday, December 13th. Mizuho initiated coverage on Bristol-Myers Squibb in a report on Monday, November 25th. They issued a “buy” rating on the stock. Argus raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Friday, December 13th. Finally, Citigroup raised Bristol-Myers Squibb from a “neutral” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. Bristol-Myers Squibb has a consensus rating of “Buy” and an average price target of $61.69.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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