South State CORP. Raises Position in Bristol-Myers Squibb (NYSE:BMY)

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South State CORP. lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,848 shares of the biopharmaceutical company’s stock after buying an additional 828 shares during the period. South State CORP.’s holdings in Bristol-Myers Squibb were worth $2,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Fiduciary Planning LLC acquired a new position in shares of Bristol-Myers Squibb in the third quarter worth about $25,000. Laidlaw Wealth Management LLC lifted its stake in shares of Bristol-Myers Squibb by 11,407.0% in the second quarter. Laidlaw Wealth Management LLC now owns 1,900,156 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 1,883,643 shares in the last quarter. JCIC Asset Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 37.8% in the second quarter. JCIC Asset Management Inc. now owns 620 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 170 shares in the last quarter. HBC Financial Services PLLC lifted its stake in shares of Bristol-Myers Squibb by 166.7% in the second quarter. HBC Financial Services PLLC now owns 800 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 500 shares in the last quarter. Finally, CVA Family Office LLC lifted its stake in shares of Bristol-Myers Squibb by 118.0% in the second quarter. CVA Family Office LLC now owns 1,090 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 590 shares in the last quarter. 64.80% of the stock is owned by institutional investors.

Shares of NYSE:BMY traded down $0.48 during midday trading on Friday, hitting $61.61. 8,305,175 shares of the stock were exchanged, compared to its average volume of 13,572,248. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.58 and a current ratio of 1.67. Bristol-Myers Squibb has a 52-week low of $45.76 and a 52-week high of $68.34. The business’s fifty day simple moving average is $71.81 and its two-hundred day simple moving average is $81.00. The company has a market capitalization of $139.40 billion, a PE ratio of -560.04, a P/E/G ratio of 1.12 and a beta of 0.67.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Tuesday, November 10th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.14. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.33 billion. Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. The business’s quarterly revenue was up 75.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 6.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Thursday, October 1st. Bristol-Myers Squibb’s payout ratio is 38.38%.

Several analysts have issued reports on the company. Raymond James restated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Friday, September 25th. Morgan Stanley upped their price objective on Bristol-Myers Squibb from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Gabelli cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Friday, November 6th. Cfra restated a “buy” rating and set a $70.00 price objective on shares of Bristol-Myers Squibb in a research note on Sunday, July 26th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $72.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, November 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $73.69.

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 39,840 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $62.70, for a total transaction of $2,497,968.00. Following the transaction, the chief executive officer now directly owns 445,584 shares of the company’s stock, valued at $27,938,116.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products in the following therapeutic classes: hematology, oncology, cardiovascular, and immunology. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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