Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Nicolet Bankshares Inc.

Nicolet Bankshares Inc. cut its position in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 19.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,830 shares of the biopharmaceutical company’s stock after selling 5,270 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Bristol-Myers Squibb were worth $1,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in Bristol-Myers Squibb in the third quarter valued at about $25,000. Northwest Capital Management Inc acquired a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $26,000. True Wealth Design LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $26,000. Milestone Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $27,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in Bristol-Myers Squibb in the 2nd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 74.98% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of NYSE:BMY traded down $0.13 during midday trading on Monday, hitting $49.68. 8,579,894 shares of the stock were exchanged, compared to its average volume of 15,990,215. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.18. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $73.47. The business’s fifty day simple moving average is $50.52 and its two-hundred day simple moving average is $54.66. The company has a market capitalization of $101.09 billion, a PE ratio of 12.83, a P/E/G ratio of 1.53 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.33% and a net margin of 17.83%. The company had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same period last year, the company earned $1.82 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. As a group, research analysts predict that Bristol-Myers Squibb will post 6.52 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, January 4th. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a yield of 4.83%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Bristol-Myers Squibb declared that its board has approved a share buyback program on Thursday, December 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the biopharmaceutical company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

BMY has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Bristol-Myers Squibb in a research report on Thursday, November 9th. They issued a “hold” rating and a $55.00 target price on the stock. Morgan Stanley decreased their price target on Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating for the company in a research note on Friday, October 27th. HSBC raised Bristol-Myers Squibb from a “reduce” rating to a “hold” rating and decreased their price target for the company from $55.00 to $53.00 in a research note on Friday, October 27th. William Blair lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research note on Friday, October 27th. Finally, Wells Fargo & Company decreased their price target on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.17.

Read Our Latest Research Report on BMY

Insider Buying and Selling

In other news, CEO Christopher S. Boerner bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average cost of $49.78 per share, with a total value of $99,560.00. Following the completion of the transaction, the chief executive officer now directly owns 82,672 shares in the company, valued at $4,115,412.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Christopher S. Boerner bought 2,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was bought at an average price of $49.78 per share, for a total transaction of $99,560.00. Following the completion of the purchase, the chief executive officer now owns 82,672 shares of the company’s stock, valued at approximately $4,115,412.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodore R. Samuels II acquired 8,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of $49.81 per share, with a total value of $423,385.00. Following the transaction, the director now directly owns 35,500 shares in the company, valued at $1,768,255. The disclosure for this purchase can be found here. Insiders have bought a total of 13,571 shares of company stock valued at $672,994 over the last three months. 0.08% of the stock is owned by corporate insiders.

About Bristol-Myers Squibb

(Free Report)

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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