Chesapeake Wealth Management Has $431,000 Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Chesapeake Wealth Management trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,620 shares of the biopharmaceutical company’s stock after selling 840 shares during the quarter. Chesapeake Wealth Management’s holdings in Bristol-Myers Squibb were worth $431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BMY. Ballentine Partners LLC increased its holdings in Bristol-Myers Squibb by 3.9% in the fourth quarter. Ballentine Partners LLC now owns 40,553 shares of the biopharmaceutical company’s stock worth $2,294,000 after purchasing an additional 1,508 shares in the last quarter. Pure Financial Advisors LLC increased its position in Bristol-Myers Squibb by 48.2% in the fourth quarter. Pure Financial Advisors LLC now owns 7,808 shares of the biopharmaceutical company’s stock worth $442,000 after buying an additional 2,538 shares during the last quarter. Tudor Financial Inc. increased its position in Bristol-Myers Squibb by 35.7% in the fourth quarter. Tudor Financial Inc. now owns 6,561 shares of the biopharmaceutical company’s stock worth $371,000 after buying an additional 1,727 shares during the last quarter. Priebe Wealth Holdings LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $208,000. Finally, Sky Investment Group LLC grew its position in Bristol-Myers Squibb by 7.4% during the fourth quarter. Sky Investment Group LLC now owns 19,828 shares of the biopharmaceutical company’s stock worth $1,121,000 after buying an additional 1,370 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Barclays upped their price target 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. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets increased their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Stock Down 0.0 %

Shares of NYSE BMY opened at $56.35 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.24 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 firm has a 50-day moving average price of $57.53 and a 200 day moving average price of $52.09. The stock has a market capitalization of $114.30 billion, a price-to-earnings ratio of -15.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly 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. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the business posted $2.00 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

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

Insider Buying and Selling

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

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.