Bristol-Myers Squibb (NYSE:BMY) Stock Position Decreased by Empower Advisory Group LLC

Empower Advisory Group LLC decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,179 shares of the biopharmaceutical company’s stock after selling 1,095 shares during the quarter. Empower Advisory Group LLC’s holdings in Bristol-Myers Squibb were worth $423,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in shares of Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. Primecap Management Co. CA raised its holdings in Bristol-Myers Squibb by 1.0% during the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after buying an additional 225,197 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Bristol-Myers Squibb by 3.8% in the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock worth $839,946,000 after buying an additional 735,613 shares during the last quarter. Independent Franchise Partners LLP boosted its stake in shares of Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after acquiring an additional 556,295 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in shares of Bristol-Myers Squibb by 15.0% during the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after acquiring an additional 1,840,424 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of BMY stock opened at $58.49 on Friday. The firm has a fifty day moving average of $52.41 and a 200-day moving average of $47.07. The stock has a market cap of $118.63 billion, a price-to-earnings ratio of -16.29, a P/E/G ratio of 21.34 and a beta of 0.44. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week 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.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.00 earnings per share. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The stock was purchased 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 approximately $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of a number of recent analyst reports. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $73.00 in a research report on Tuesday. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. Finally, BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb 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.