Twin Capital Management Inc. trimmed its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 28.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 148,392 shares of the biopharmaceutical company’s stock after selling 58,058 shares during the quarter. Twin Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $6,730,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Lodestar Investment Counsel LLC IL increased its stake in Bristol-Myers Squibb by 5.2% in the second quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock worth $5,157,000 after purchasing an additional 5,579 shares during the period. Perella Weinberg Partners Capital Management LP increased its stake in Bristol-Myers Squibb by 10.9% in the first quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 1,905 shares during the period. Stephens Inc. AR increased its stake in Bristol-Myers Squibb by 30.7% in the first quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock worth $10,331,000 after purchasing an additional 50,798 shares during the period. Nachman Norwood & Parrott Inc increased its stake in Bristol-Myers Squibb by 3.5% in the second quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock worth $2,285,000 after purchasing an additional 1,687 shares during the period. Finally, Edge Wealth Management LLC increased its stake in Bristol-Myers Squibb by 217.7% in the second quarter. Edge Wealth Management LLC now owns 10,007 shares of the biopharmaceutical company’s stock worth $452,000 after purchasing an additional 6,857 shares during the period. Institutional investors and hedge funds own 77.37% of the company’s stock.
Shares of Bristol-Myers Squibb stock traded up $0.27 during trading on Thursday, hitting $45.91. 437,063 shares of the stock traded hands, compared to its average volume of 15,150,168. Bristol-Myers Squibb Co has a 52-week low of $42.48 and a 52-week high of $63.69. The firm’s fifty day moving average is $45.29. The stock has a market cap of $76.06 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 2.30 and a beta of 0.73. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Wednesday, July 3rd. Bristol-Myers Squibb’s payout ratio is currently 41.21%.
A number of research firms have weighed in on BMY. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Tuesday, May 7th. Barclays upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $53.00 to $55.00 in a research note on Friday, May 3rd. BMO Capital Markets raised their price target on Bristol-Myers Squibb from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Goldman Sachs Group assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, May 28th. They set a “buy” rating and a $54.00 price target on the stock. Finally, ValuEngine lowered Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $55.88.
In related news, Director Robert J. Bertolini acquired 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of $44.72 per share, with a total value of $491,920.00. Following the completion of the transaction, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.
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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