Burney Co. Purchases 516 Shares of Bristol-Myers Squibb (NYSE:BMY)

Burney Co. boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 4.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,753 shares of the biopharmaceutical company’s stock after purchasing an additional 516 shares during the period. Burney Co.’s holdings in Bristol-Myers Squibb were worth $721,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management raised its stake in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares during the period. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb in the third quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 0.0 %

NYSE:BMY opened at $56.35 on Friday. The firm’s 50 day moving average is $57.48 and its 200 day moving average is $51.82. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The stock has a market capitalization of $114.30 billion, a PE ratio of -15.70, a price-to-earnings-growth ratio of 1.95 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.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the prior year, the firm earned $2.00 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a $0.62 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.40%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -69.08%.

Analysts Set New Price Targets

A number of brokerages have commented on BMY. Bank of America restated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Barclays raised their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.27.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

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.