MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 61,128 Shares of Bristol-Myers Squibb (NYSE:BMY)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 191,295 shares of the biopharmaceutical company’s stock after selling 61,128 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Bristol-Myers Squibb were worth $10,724,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BMY. Cornerstone Wealth Management LLC grew its holdings in Bristol-Myers Squibb by 21.0% in the 4th quarter. Cornerstone Wealth Management LLC now owns 25,874 shares of the biopharmaceutical company’s stock worth $1,463,000 after acquiring an additional 4,496 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Bristol-Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 4,935 shares during the period. Secure Asset Management LLC grew its stake in shares of Bristol-Myers Squibb by 37.8% in the fourth quarter. Secure Asset Management LLC now owns 9,848 shares of the biopharmaceutical company’s stock worth $557,000 after purchasing an additional 2,700 shares during the last quarter. Red Door Wealth Management LLC raised its position in Bristol-Myers Squibb by 4.2% during the 4th quarter. Red Door Wealth Management LLC now owns 10,788 shares of the biopharmaceutical company’s stock valued at $610,000 after purchasing an additional 435 shares during the last quarter. Finally, Donoghue Forlines LLC increased its stake in shares of Bristol-Myers Squibb by 57.1% during the fourth quarter. Donoghue Forlines LLC now owns 27,801 shares of the biopharmaceutical company’s stock valued at $1,572,000 after buying an additional 10,106 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

BMY opened at $59.15 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The company has a market cap of $119.97 billion, a price-to-earnings ratio of -16.48, a PEG ratio of 2.02 and a beta of 0.45. The company’s 50 day moving average is $57.39 and its 200 day moving average is $52.36.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the company earned $2.00 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed 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. This represents a $2.48 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

Insider Transactions at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was 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 $654,091.20. This represents a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of several research reports. Barclays upped their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.27.

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.