Linscomb Wealth Inc. Has $242,000 Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Linscomb Wealth Inc. trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,681 shares of the biopharmaceutical company’s stock after selling 306 shares during the quarter. Linscomb Wealth Inc.’s holdings in Bristol-Myers Squibb were worth $242,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of BMY. Patriot Financial Group Insurance Agency LLC raised its position in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 206 shares in the last quarter. Graypoint LLC raised its position in Bristol-Myers Squibb by 29.4% during the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after purchasing an additional 2,563 shares in the last quarter. Xponance Inc. lifted its stake in Bristol-Myers Squibb by 8.8% during the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after purchasing an additional 25,543 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after purchasing an additional 21,041 shares in the last quarter. Finally, Meritage Portfolio Management lifted its position in shares of Bristol-Myers Squibb by 1,874.9% during the 3rd quarter. Meritage Portfolio Management now owns 108,264 shares of the biopharmaceutical company’s stock worth $5,602,000 after buying an additional 102,782 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BMY. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $73.00 in a research note on Tuesday. TD Cowen boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Barclays raised their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Trading Down 3.9 %

NYSE BMY opened at $56.22 on Friday. The stock has a market capitalization of $114.02 billion, a P/E ratio of -15.66, a P/E/G ratio of 15.83 and a beta of 0.44. The business has a 50 day simple moving average of $52.73 and a 200 day simple moving average of $47.23. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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 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%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 EPS. Research analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.27%. Bristol-Myers Squibb’s dividend payout ratio is presently -66.85%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now directly 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. 0.09% of the stock is currently owned by corporate insiders.

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.