Wescott Financial Advisory Group LLC acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,535 shares of the biopharmaceutical company’s stock, valued at approximately $380,000.
Several other large investors also recently added to or reduced their stakes in BMY. Franklin Resources Inc. boosted its position in shares of Bristol-Myers Squibb by 32.6% in the first quarter. Franklin Resources Inc. now owns 19,468,426 shares of the biopharmaceutical company’s stock valued at $1,229,043,000 after acquiring an additional 4,786,073 shares during the period. Factorial Partners LLC boosted its position in shares of Bristol-Myers Squibb by 10,082.3% in the first quarter. Factorial Partners LLC now owns 3,787,800 shares of the biopharmaceutical company’s stock valued at $60,000,000 after acquiring an additional 3,750,600 shares during the period. ARK Investment Management LLC bought a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $137,618,000. BlackRock Inc. boosted its position in shares of Bristol-Myers Squibb by 1.2% in the first quarter. BlackRock Inc. now owns 176,410,048 shares of the biopharmaceutical company’s stock valued at $11,136,766,000 after acquiring an additional 2,079,793 shares during the period. Finally, Mn Services Vermogensbeheer B.V. bought a new stake in shares of Bristol-Myers Squibb in the second quarter valued at about $92,578,000. Hedge funds and other institutional investors own 72.10% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Truist Securities began coverage on shares of Bristol-Myers Squibb in a research report on Wednesday, July 28th. They issued a “buy” rating and a $74.00 target price for the company. Bank of America reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, July 28th. Truist began coverage on shares of Bristol-Myers Squibb in a research report on Wednesday, July 28th. They set a “buy” rating and a $74.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Bristol-Myers Squibb from $62.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 29th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Buy” and an average price target of $73.83.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Tuesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.04. Bristol-Myers Squibb had a positive return on equity of 37.76% and a negative net margin of 11.44%. The company had revenue of $11.70 billion during the quarter, compared to the consensus estimate of $11.24 billion. Analysts forecast that Bristol-Myers Squibb will post 7.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 1st will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 30th. Bristol-Myers Squibb’s dividend payout ratio is currently 30.43%.
In other news, CFO David V. Elkins sold 99,691 shares of the company’s stock in a transaction that occurred on Thursday, August 12th. The stock was sold at an average price of $66.95, for a total value of $6,674,312.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.11% of the company’s stock.
Bristol-Myers Squibb Company Profile
Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.
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