RNC Capital Management LLC Has $608,000 Position in Bristol-Myers Squibb Company (NYSE:BMY)

RNC Capital Management LLC boosted its position in Bristol-Myers Squibb Company (NYSE:BMY) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,179 shares of the biopharmaceutical company’s stock after buying an additional 400 shares during the period. RNC Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $608,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American National Bank boosted its stake in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 508 shares during the last quarter. Welch Investments LLC boosted its stake 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 in the last quarter. Crestwood Advisors Group LLC acquired a new stake in Bristol-Myers Squibb during the first quarter valued at approximately $116,000. State of Alaska Department of Revenue boosted its stake 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 in the last quarter. Finally, Prentiss Smith & Co. Inc. boosted its stake 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 in the last quarter. 69.68% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Company (NYSE:BMY) traded down 0.62% during trading on Friday, reaching $56.42. The company’s stock had a trading volume of 4,809,885 shares. The company 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 52 week low of $46.01 and a 52 week high of $60.45. The company’s 50 day moving average price is $55.95 and its 200 day moving average price is $54.96. Bristol-Myers Squibb also saw some unusual options trading activity on Thursday. Investors purchased 781 put options on the company. This is an increase of approximately 117% compared to the typical volume of 360 put options.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were paid a $0.39 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.76%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 56.73%.

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Several analysts recently commented on BMY shares. BMO Capital Markets cut Bristol-Myers Squibb from a “market perform” rating to an “underperform” rating and set a $47.00 target price on the stock. in a research report on Wednesday, May 3rd. Robert W. Baird assumed coverage on Bristol-Myers Squibb in a research report on Tuesday, April 25th. They issued an “outperform” rating on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $64.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. Piper Jaffray Companies set a $60.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $58.88 price target for the company in a research note on Monday, June 5th. One investment 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 company. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.12.

In other news, Director Theodore R. Samuels II purchased 6,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average price of $55.94 per share, with a total value of $335,640.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.

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

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