Argent Trust Co Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Argent Trust Co raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,401 shares of the biopharmaceutical company’s stock after purchasing an additional 587 shares during the quarter. Argent Trust Co’s holdings in Bristol-Myers Squibb were worth $4,095,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fairway Wealth LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth about $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $34,000. Westend Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $38,000. Tacita Capital Inc purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $39,000. Finally, M Holdings Securities Inc. purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 3.5 %

Shares of BMY traded down $1.90 during trading hours on Thursday, reaching $51.84. 1,891,494 shares of the stock traded hands, compared to its average volume of 12,828,676. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The stock has a fifty day simple moving average of $58.07 and a 200 day simple moving average of $56.73. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a market cap of $105.49 billion, a price-to-earnings ratio of -11.73, a PEG ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BMY shares. Cantor Fitzgerald increased their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday. Finally, Citigroup increased their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $57.67.

Insider Buying and Selling

In related news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by 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.