Rakuten Securities Inc. Sells 1,339 Shares of Bristol-Myers Squibb (NYSE:BMY)

Rakuten Securities Inc. trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 66.2% during the third quarter, Holdings Channel.com reports. The fund owned 685 shares of the biopharmaceutical company’s stock after selling 1,339 shares during the quarter. Rakuten Securities Inc.’s holdings in Bristol-Myers Squibb were worth $35,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Hollencrest Capital Management lifted its position in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the period. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $27,000. Kennebec Savings Bank bought a new position in shares of Bristol-Myers Squibb in the third quarter worth $28,000. Finally, Valued Wealth Advisors LLC raised its stake in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BMY shares. Jefferies Financial Group boosted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday. Citigroup upped their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, TD Cowen lifted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.07.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction 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 owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY stock opened at $59.02 on Wednesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The company has a market capitalization of $119.70 billion, a P/E ratio of -16.44, a PEG ratio of 20.09 and a beta of 0.44. The company has a fifty day moving average price of $52.07 and a 200-day moving average price of $46.89.

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 the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 EPS. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.07%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Bristol-Myers Squibb Company 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.