Boltwood Capital Management Acquires 760 Shares of Bristol-Myers Squibb (NYSE:BMY)

Boltwood Capital Management raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 19.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,705 shares of the biopharmaceutical company’s stock after buying an additional 760 shares during the period. Boltwood Capital Management’s holdings in Bristol-Myers Squibb were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CWA Asset Management Group LLC grew its position in Bristol-Myers Squibb by 27.5% during the 4th quarter. CWA Asset Management Group LLC now owns 111,149 shares of the biopharmaceutical company’s stock worth $6,287,000 after acquiring an additional 23,957 shares during the last quarter. Pensionfund Sabic increased its stake in shares of Bristol-Myers Squibb by 32.8% in the fourth quarter. Pensionfund Sabic now owns 40,500 shares of the biopharmaceutical company’s stock worth $2,291,000 after buying an additional 10,000 shares during the period. First City Capital Management Inc. raised its holdings in Bristol-Myers Squibb by 1.0% during the 4th quarter. First City Capital Management Inc. now owns 21,164 shares of the biopharmaceutical company’s stock valued at $1,197,000 after buying an additional 219 shares during the last quarter. GAMMA Investing LLC boosted its position in Bristol-Myers Squibb by 22.0% during the 4th quarter. GAMMA Investing LLC now owns 33,418 shares of the biopharmaceutical company’s stock valued at $1,890,000 after buying an additional 6,032 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Bristol-Myers Squibb by 14.0% in the fourth quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company’s stock valued at $4,451,000 after acquiring an additional 9,692 shares during the period. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Morgan Stanley increased their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.64.

Insiders Place Their Bets

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

Bristol-Myers Squibb Stock Performance

BMY stock traded down $0.16 during midday trading on Monday, reaching $56.41. 2,424,146 shares of the company’s stock traded hands, compared to its average volume of 6,936,555. 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 has a 52-week low of $39.35 and a 52-week high of $61.08. The stock has a market cap of $114.41 billion, a P/E ratio of -15.71, a PEG ratio of 15.20 and a beta of 0.45. The stock’s 50-day moving average is $57.14 and its 200 day moving average is $51.04.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion for 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 for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.00 EPS. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.40%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

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.