Piedmont Investment Advisors LLC reduced its position in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 10.9% during the first quarter, Holdings Channel reports. The fund owned 354,654 shares of the biopharmaceutical company’s stock after selling 43,342 shares during the period. Piedmont Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $19,286,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Private Asset Management Inc. boosted its position in Bristol-Myers Squibb by 2.6% in the first quarter. Private Asset Management Inc. now owns 185,493 shares of the biopharmaceutical company’s stock worth $10,087,000 after buying an additional 4,745 shares during the last quarter. Triangle Securities Wealth Management boosted its position in Bristol-Myers Squibb by 3.1% in the first quarter. Triangle Securities Wealth Management now owns 39,059 shares of the biopharmaceutical company’s stock worth $2,124,000 after buying an additional 1,190 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in Bristol-Myers Squibb by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,506,703 shares of the biopharmaceutical company’s stock worth $81,935,000 after buying an additional 44,200 shares during the last quarter. Rathbone Brothers plc boosted its position in Bristol-Myers Squibb by 3.7% in the first quarter. Rathbone Brothers plc now owns 55,248 shares of the biopharmaceutical company’s stock worth $3,004,000 after buying an additional 1,970 shares during the last quarter. Finally, Manning & Napier Advisors LLC boosted its position in Bristol-Myers Squibb by 5.8% in the first quarter. Manning & Napier Advisors LLC now owns 3,236,578 shares of the biopharmaceutical company’s stock worth $176,003,000 after buying an additional 176,298 shares during the last quarter. 69.68% of the stock is currently owned by institutional investors.
Bristol-Myers Squibb Company (BMY) traded up 0.18% during mid-day trading on Friday, hitting $56.87. 1,633,864 shares of the company were exchanged. The firm has a 50 day moving average price of $55.93 and a 200 day moving average price of $54.91. The stock has a market cap of $93.26 billion, a price-to-earnings ratio of 20.77 and a beta of 1.17. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $60.45. Bristol-Myers Squibb also was the recipient of unusually large options trading on Thursday. Stock traders bought 781 put options on the stock. This is an increase of 117% compared to the average volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. Bristol-Myers Squibb’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. Analysts anticipate that Bristol-Myers Squibb Company will post $2.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 56.73%.
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A number of research analysts have commented on BMY shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Sunday, April 23rd. Vetr lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $59.88 price target on the stock. in a research note on Monday, April 24th. Robert W. Baird initiated coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 25th. They set an “outperform” rating on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $64.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. Finally, BidaskClub upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $62.12.
In related news, Director Theodore R. Samuels II purchased 6,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average cost of $55.94 per share, with a total value of $335,640.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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