Alley Co LLC boosted its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 7.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,896 shares of the biopharmaceutical company’s stock after buying an additional 5,757 shares during the period. Bristol-Myers Squibb accounts for approximately 1.8% of Alley Co LLC’s investment portfolio, making the stock its 22nd largest position. Alley Co LLC’s holdings in Bristol-Myers Squibb were worth $4,617,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Access Financial Services Inc. purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $248,000. Vident Investment Advisory LLC boosted its position in Bristol-Myers Squibb by 28.7% in the fourth quarter. Vident Investment Advisory LLC now owns 12,660 shares of the biopharmaceutical company’s stock valued at $740,000 after buying an additional 2,823 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $484,000. Norges Bank purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $770,318,000. Finally, Sowell Financial Services LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $212,000. 69.68% of the stock is owned by institutional investors and hedge funds.
Bristol-Myers Squibb Company (NYSE BMY) opened at 56.42 on Friday. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $60.45. The company has a market cap of $92.52 billion, a PE ratio of 20.61 and a beta of 1.17. The company has a 50 day moving average price of $55.95 and a 200-day moving average price of $54.96. Bristol-Myers Squibb also was the target of unusually large options trading on Thursday. Stock investors purchased 781 put options on the company. This is an increase of approximately 117% compared to the typical daily volume of 360 put options.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a yield of 2.76%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 56.73%.
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Several equities analysts recently weighed in on the stock. Credit Suisse Group set a $58.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Wednesday. Cowen and Company set a $65.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Monday, August 14th. Vetr downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $63.81 price target for the company. in a report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Wednesday, August 9th. Finally, BidaskClub raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. 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 assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $62.12.
In related news, Director Theodore R. Samuels II acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average price of $55.94 per share, with a total value of $335,640.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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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