Penobscot Investment Management Company Inc. Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Penobscot Investment Management Company Inc. trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.3% during the fourth quarter, HoldingsChannel reports. The firm owned 14,630 shares of the biopharmaceutical company’s stock after selling 498 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Bristol-Myers Squibb were worth $827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. United Bank grew its holdings in Bristol-Myers Squibb by 2.7% in the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after buying an additional 456 shares in the last quarter. Centaurus Financial Inc. grew its holdings in shares of Bristol-Myers Squibb by 21.3% in the third quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock valued at $565,000 after purchasing an additional 1,920 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Bristol-Myers Squibb during the third quarter worth about $133,000. Loomis Sayles & Co. L P raised its stake in Bristol-Myers Squibb by 29.1% during the third quarter. Loomis Sayles & Co. L P now owns 277,599 shares of the biopharmaceutical company’s stock worth $14,363,000 after purchasing an additional 62,602 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Bristol-Myers Squibb by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,711,074 shares of the biopharmaceutical company’s stock valued at $88,531,000 after purchasing an additional 29,480 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 0.0 %

Shares of Bristol-Myers Squibb stock opened at $59.18 on Thursday. The company has a 50-day moving average of $58.42 and a two-hundred day moving average of $56.15. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a market cap of $120.08 billion, a PE ratio of -13.39, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Cantor Fitzgerald upped their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Bank of America reaffirmed a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Citigroup upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb 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.