Cable Hill Partners LLC Trims Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cable Hill Partners LLC decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 17.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,715 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the quarter. Cable Hill Partners LLC’s holdings in Bristol-Myers Squibb were worth $267,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BMY. AMF Tjanstepension AB lifted its position in Bristol-Myers Squibb by 6.9% during the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after buying an additional 39,419 shares in the last quarter. Swedbank AB raised its position in Bristol-Myers Squibb by 0.9% in the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock valued at $162,440,000 after purchasing an additional 28,427 shares during the period. Assenagon Asset Management S.A. raised its position in Bristol-Myers Squibb by 12.7% in the third quarter. Assenagon Asset Management S.A. now owns 64,191 shares of the biopharmaceutical company’s stock valued at $3,321,000 after purchasing an additional 7,245 shares during the period. Pettinga Financial Advisors LLC raised its position in Bristol-Myers Squibb by 8.7% in the third quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock valued at $575,000 after purchasing an additional 886 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its position in Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BMY. Cantor Fitzgerald lifted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Wolfe Research assumed coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.86.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Down 1.5 %

BMY opened at $57.34 on Thursday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The stock has a market capitalization of $116.35 billion, a price-to-earnings ratio of -12.97, a PEG ratio of 2.07 and a beta of 0.45. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The business has a fifty day moving average price of $57.06 and a 200 day moving average price of $54.58.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Sell-side analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

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.