TrinityPoint Wealth LLC Boosts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

TrinityPoint Wealth LLC boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,550 shares of the biopharmaceutical company’s stock after buying an additional 522 shares during the period. TrinityPoint Wealth LLC’s holdings in Bristol-Myers Squibb were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb during the third quarter valued at approximately $25,000. Hollencrest Capital Management boosted its position in shares of 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 purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $28,000. Valued Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares in the last quarter. Finally, LGT Financial Advisors LLC boosted its holdings in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Wolfe Research assumed coverage on Bristol-Myers Squibb in a report on Friday. They issued a “peer perform” rating on the stock. TD Cowen upped their price objective 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. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, UBS Group upped their target price 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. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $56.81 on Tuesday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market cap of $115.22 billion, a PE ratio of -15.82, a P/E/G ratio of 15.23 and a beta of 0.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The stock has a fifty day moving average price of $52.90 and a 200 day moving average price of $47.37.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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 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%. Bristol-Myers Squibb’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred 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 transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb 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 directly owns 11,760 shares in the company, 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 company insiders.

About Bristol-Myers Squibb

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.