Rehmann Capital Advisory Group increased its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 25.6% during the second quarter, Holdings Channel reports. The fund owned 16,531 shares of the biopharmaceutical company’s stock after buying an additional 3,365 shares during the period. Rehmann Capital Advisory Group’s holdings in Bristol-Myers Squibb were worth $1,216,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Williams Jones & Associates LLC boosted its position in Bristol-Myers Squibb by 1.6% in the first quarter. Williams Jones & Associates LLC now owns 396,296 shares of the biopharmaceutical company’s stock valued at $25,315,000 after buying an additional 6,125 shares during the last quarter. Douglas Lane & Associates LLC bought a new position in Bristol-Myers Squibb during the first quarter valued at approximately $25,824,000. Quantitative Systematic Strategies LLC boosted its position in Bristol-Myers Squibb by 75.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 13,554 shares of the biopharmaceutical company’s stock valued at $860,000 after buying an additional 5,824 shares during the last quarter. Athena Capital Advisors LLC boosted its position in Bristol-Myers Squibb by 2.0% in the first quarter. Athena Capital Advisors LLC now owns 50,700 shares of the biopharmaceutical company’s stock valued at $3,239,000 after buying an additional 1,000 shares during the last quarter. Finally, Lodestar Investment Counsel LLC IL boosted its position in Bristol-Myers Squibb by 150.5% in the first quarter. Lodestar Investment Counsel LLC IL now owns 18,285 shares of the biopharmaceutical company’s stock valued at $1,168,000 after buying an additional 10,985 shares during the last quarter. 72.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.69% during midday trading on Friday, hitting $55.43. 12,714,378 shares of the stock traded hands. The company has a market capitalization of $92.62 billion, a PE ratio of 32.42 and a beta of 0.74. Bristol-Myers Squibb Co. has a 12-month low of $53.56 and a 12-month high of $77.12. The firm’s 50 day moving average price is $56.41 and its 200 day moving average price is $66.79.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The business earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same period in the previous year, the firm earned $0.53 EPS. Bristol-Myers Squibb’s quarterly revenue was up 17.2% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a $0.38 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. Bristol-Myers Squibb’s dividend payout ratio is presently 87.36%.
BMY has been the subject of several research reports. Morgan Stanley restated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Thursday, August 25th. Goldman Sachs Group Inc. restated a “buy” rating and set a $75.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, September 27th. Deutsche Bank AG lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Citigroup Inc. reduced their price objective on shares of Bristol-Myers Squibb from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, September 20th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, August 15th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $69.91.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co. (NYSE:BMY).
Receive News & Ratings for Bristol-Myers Squibb Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb Co. and related companies with MarketBeat.com's FREE daily email newsletter.