Executive Wealth Management LLC lessened its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 14.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,895 shares of the biopharmaceutical company’s stock after selling 325 shares during the quarter. Executive Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $86,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors acquired a new stake in Bristol-Myers Squibb during the 2nd quarter valued at approximately $206,000. Jacobs & Co. CA increased its position in Bristol-Myers Squibb by 1.4% during the 2nd quarter. Jacobs & Co. CA now owns 65,648 shares of the biopharmaceutical company’s stock valued at $2,977,000 after purchasing an additional 886 shares during the period. Dundas Partners LLP increased its position in Bristol-Myers Squibb by 2.0% during the 2nd quarter. Dundas Partners LLP now owns 147,293 shares of the biopharmaceutical company’s stock valued at $6,679,000 after purchasing an additional 2,864 shares during the period. Sunbelt Securities Inc. increased its position in Bristol-Myers Squibb by 4.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 5,830 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 246 shares during the period. Finally, Chesapeake Wealth Management grew its position in shares of Bristol-Myers Squibb by 11.9% during the 2nd quarter. Chesapeake Wealth Management now owns 14,544 shares of the biopharmaceutical company’s stock worth $660,000 after buying an additional 1,541 shares during the period. 77.37% of the stock is owned by institutional investors and hedge funds.
In other news, Director Robert J. Bertolini bought 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the acquisition, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same period last year, the business earned $1.01 EPS. Bristol-Myers Squibb’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts expect that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Wednesday, July 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
Several analysts have recently commented on BMY shares. UBS Group reduced their price objective on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, June 13th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Tuesday, May 7th. ValuEngine downgraded shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, Barclays raised shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $53.00 to $55.00 in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $55.88.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. 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 moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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