Carderock Capital Management Inc. boosted its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 9.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,440 shares of the biopharmaceutical company’s stock after purchasing an additional 465 shares during the quarter. Carderock Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $303,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealth Quarterback LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $11,012,211,000. Charles Schwab Investment Management Inc. increased its holdings in Bristol-Myers Squibb by 42.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,662,473 shares of the biopharmaceutical company’s stock valued at $1,262,135,000 after purchasing an additional 5,861,939 shares during the last quarter. Capital World Investors increased its holdings in Bristol-Myers Squibb by 2.4% in the fourth quarter. Capital World Investors now owns 12,705,535 shares of the biopharmaceutical company’s stock valued at $815,568,000 after purchasing an additional 303,014 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Bristol-Myers Squibb by 12.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,790,913 shares of the biopharmaceutical company’s stock valued at $651,830,000 after purchasing an additional 1,263,572 shares during the last quarter. Finally, TIG Advisors LLC increased its holdings in Bristol-Myers Squibb by 9,590.9% in the fourth quarter. TIG Advisors LLC now owns 9,348,540 shares of the biopharmaceutical company’s stock valued at $28,139,000 after purchasing an additional 9,447,040 shares during the last quarter. Institutional investors and hedge funds own 76.51% of the company’s stock.
Shares of BMY stock traded down $0.04 on Friday, hitting $61.10. 3,706,372 shares of the stock were exchanged, compared to its average volume of 15,874,773. The company has a current ratio of 1.66, a quick ratio of 1.51 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $138.34 billion, a P/E ratio of 75.40, a price-to-earnings-growth ratio of 1.21 and a beta of 0.74. The business has a 50-day moving average of $60.37 and a 200 day moving average of $60.69. Bristol-Myers Squibb Co has a fifty-two week low of $42.48 and a fifty-two week high of $68.34.
The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 3rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.80 annualized dividend and a yield of 2.95%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 38.38%.
A number of research firms recently commented on BMY. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Monday, March 23rd. Cfra increased their price target on Bristol-Myers Squibb from $69.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. William Blair restated a “buy” rating on shares of Bristol-Myers Squibb in a report on Friday, May 15th. Morgan Stanley upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and set a $64.00 price target for the company in a report on Thursday, April 2nd. Finally, Bank of America restated a “buy” rating and issued a $80.00 price target on shares of Bristol-Myers Squibb in a report on Friday, May 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Bristol-Myers Squibb presently has a consensus rating of “Buy” and an average price target of $65.38.
In other Bristol-Myers Squibb news, EVP Louis S. Schmukler sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total value of $1,567,000.00. Following the sale, the executive vice president now owns 26,777 shares in the company, valued at $1,678,382.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John E. Elicker sold 15,805 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $61.01, for a total value of $964,263.05. Following the completion of the sale, the executive vice president now owns 58,666 shares in the company, valued at approximately $3,579,212.66. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Bristol-Myers Squibb Company 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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