48,234 Shares in Bristol Myers Squibb Company $BMY Acquired by Associated Banc Corp

Key Points

• Associated Banc Corp acquired 48,234 Bristol Myers Squibb shares in the third quarter, worth about $3.01 million; institutional investors own 76.41% of the company’s stock.
• Bristol Myers Squibb reported quarterly EPS of $1.35, beating the $1.10 consensus, while revenue rose 6.9% year over year to $13.07 billion.
• Analysts’ consensus rating is Hold, with an average price target of $65.46; the company’s quarterly dividend is $0.63 per share.

Associated Banc Corp bought a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 48,234 shares of the biopharmaceutical company's stock, valued at approximately $3,010,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of BMY. Altura Wealth Advisors Inc. grew its stake in shares of Bristol Myers Squibb by 1.2% in the 3rd quarter. Altura Wealth Advisors Inc. now owns 13,717 shares of the biopharmaceutical company's stock worth $856,000 after buying an additional 161 shares in the last quarter. Capital City Trust Co. FL increased its stake in Bristol Myers Squibb by 0.7% during the third quarter. Capital City Trust Co. FL now owns 23,321 shares of the biopharmaceutical company's stock worth $1,455,000 after acquiring an additional 167 shares during the last quarter. Eagle Bay Advisors LLC lifted its stake in shares of Bristol Myers Squibb by 2.6% in the 3rd quarter. Eagle Bay Advisors LLC now owns 6,536 shares of the biopharmaceutical company's stock valued at $408,000 after purchasing an additional 168 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of Bristol Myers Squibb by 21.1% in the third quarter. Blue Bell Private Wealth Management LLC now owns 969 shares of the biopharmaceutical company's stock valued at $60,000 after acquiring an additional 169 shares during the period. Finally, Boltwood Capital Management raised its stake in shares of Bristol Myers Squibb by 2.5% in the third quarter. Boltwood Capital Management now owns 7,107 shares of the biopharmaceutical company's stock valued at $443,000 after acquiring an additional 170 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Up 4.1%

BMY stock opened at $64.21 on Thursday. The stock has a market capitalization of $131.26 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.32 and a beta of 0.20. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.79. Bristol Myers Squibb Company has a 52 week low of $45.26 and a 52 week high of $68.64. The firm has a 50 day moving average of $62.53 and a 200 day moving average of $60.03.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.25. Bristol Myers Squibb had a net margin of 18.47% and a return on equity of 60.48%. The firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.72 billion. During the same quarter last year, the company posted $1.63 earnings per share. The firm's revenue was up 6.9% compared to the same quarter last year. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.45 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, October 2nd. Bristol Myers Squibb's dividend payout ratio (DPR) is 55.88%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Leerink Partners downgraded Bristol Myers Squibb from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $73.00 to $59.00 in a report on Monday, October 5th. Weiss Ratings upgraded Bristol Myers Squibb from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. Daiwa Securities Group increased their price objective on Bristol Myers Squibb from $53.00 to $66.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. TD Cowen initiated coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They set a "buy" rating on the stock. Finally, Citigroup reaffirmed a "neutral" rating and set a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.46.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 500 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total transaction of $33,750.00. Following the transaction, the senior vice president directly owned 16,862 shares in the company, valued at approximately $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.05% of the company's stock.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb NYSE: BMY is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company's portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.

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