Gabelli Funds LLC boosted its stake in Bristol-Myers Squibb Company (NYSE:BMY) by 4.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 839,887 shares of the biopharmaceutical company’s stock after buying an additional 39,100 shares during the period. Gabelli Funds LLC owned 0.05% of Bristol-Myers Squibb worth $45,673,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMY. American National Bank boosted its position in Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares during the last quarter. Welch Investments LLC boosted its position in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in Bristol-Myers Squibb during the first quarter valued at $116,000. State of Alaska Department of Revenue boosted its position in Bristol-Myers Squibb by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,229 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 60 shares during the last quarter. Finally, Prentiss Smith & Co. Inc. boosted its position in Bristol-Myers Squibb by 61.8% in the first quarter. Prentiss Smith & Co. Inc. now owns 2,333 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 891 shares during the last quarter. Hedge funds and other institutional investors own 69.68% of the company’s stock.
Shares of Bristol-Myers Squibb Company (BMY) traded down 0.62% during mid-day trading on Friday, hitting $56.42. The stock had a trading volume of 4,809,885 shares. The firm has a 50 day moving average price of $55.95 and a 200-day moving average price of $54.96. The stock has a market cap of $92.52 billion, a P/E ratio of 20.61 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 target of unusually large options trading on Thursday. Investors acquired 781 put options on the company. This represents an increase of 117% compared to the typical daily volume of 360 put options.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, July 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.76%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 56.73%.
Several research analysts have weighed in on BMY shares. Jefferies Group LLC reiterated a “buy” rating and set a $64.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, June 5th. Vetr cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $59.88 price objective on the stock. in a research report on Monday, April 24th. BidaskClub upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. Finally, Cowen and Company set a $65.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $62.12.
In other news, Director Theodore R. Samuels II acquired 6,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at $1,006,920. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
About Bristol-Myers Squibb
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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