Triangle Securities Wealth Management Trims Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Triangle Securities Wealth Management lowered its position in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 2.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,989 shares of the biopharmaceutical company’s stock after selling 1,052 shares during the period. Triangle Securities Wealth Management’s holdings in Bristol-Myers Squibb were worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. lifted its stake in Bristol-Myers Squibb by 28.0% in the third quarter. Xponance Inc. now owns 219,534 shares of the biopharmaceutical company’s stock valued at $15,607,000 after buying an additional 47,993 shares during the last quarter. Grimes & Company Inc. lifted its stake in Bristol-Myers Squibb by 1.6% in the third quarter. Grimes & Company Inc. now owns 295,464 shares of the biopharmaceutical company’s stock valued at $21,005,000 after buying an additional 4,778 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 2.2% in the third quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 12,366 shares of the biopharmaceutical company’s stock valued at $879,000 after buying an additional 261 shares during the last quarter. Advocate Group LLC lifted its stake in Bristol-Myers Squibb by 9.0% in the third quarter. Advocate Group LLC now owns 97,286 shares of the biopharmaceutical company’s stock valued at $6,916,000 after buying an additional 7,998 shares during the last quarter. Finally, Columbia Asset Management purchased a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $495,000. Hedge funds and other institutional investors own 75.51% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In related news, CEO Giovanni Caforio sold 240,000 shares of the stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the transaction, the chief executive officer now directly owns 236,104 shares in the company, valued at $17,625,163.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Giovanni Caforio sold 240,000 shares of the stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the transaction, the chief executive officer now directly owns 236,104 shares in the company, valued at $17,625,163.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Powell sold 11,183 shares of the stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $74.69, for a total value of $835,258.27. Following the transaction, the executive vice president now owns 23,043 shares in the company, valued at $1,721,081.67. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BMY shares. StockNews.com started coverage on Bristol-Myers Squibb in a research note on Thursday. They set a “strong-buy” rating for the company. Morgan Stanley upped their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “underweight” rating in a research note on Friday, February 3rd. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 3rd. Cantor Fitzgerald started coverage on Bristol-Myers Squibb in a research note on Tuesday, January 17th. They set an “overweight” rating and a $95.00 price target for the company. Finally, Jefferies Financial Group started coverage on Bristol-Myers Squibb in a research note on Monday, March 6th. They set a “hold” rating and a $62.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.69.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded down $0.57 during trading hours on Friday, hitting $66.53. The stock had a trading volume of 21,616,937 shares, compared to its average volume of 8,457,718. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.25 and a quick ratio of 1.14. The stock has a market capitalization of $139.63 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.44 and a beta of 0.46. Bristol-Myers Squibb has a 1-year low of $65.28 and a 1-year high of $81.43. The stock’s fifty day moving average is $70.96 and its two-hundred day moving average is $72.88.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.11. The company had revenue of $11.41 billion for the quarter, compared to analyst estimates of $11.20 billion. Bristol-Myers Squibb had a return on equity of 51.60% and a net margin of 13.71%. Bristol-Myers Squibb’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 earnings per share. As a group, analysts predict that Bristol-Myers Squibb will post 8.07 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Thursday, April 6th. Bristol-Myers Squibb’s payout ratio is currently 77.29%.

About Bristol-Myers Squibb

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.