Commerce Bank lowered its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323,992 shares of the biopharmaceutical company’s stock after selling 17,627 shares during the period. Commerce Bank’s holdings in Bristol-Myers Squibb were worth $23,830,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. IBM Retirement Fund increased its position in Bristol-Myers Squibb by 1.1% in the second quarter. IBM Retirement Fund now owns 219,448 shares of the biopharmaceutical company’s stock worth $16,627,000 after buying an additional 2,421 shares during the last quarter. Howard Capital Management increased its position in Bristol-Myers Squibb by 0.7% in the second quarter. Howard Capital Management now owns 153,499 shares of the biopharmaceutical company’s stock worth $11,290,000 after buying an additional 1,068 shares during the last quarter. Handelsbanken Fonder AB increased its position in Bristol-Myers Squibb by 19.4% in the second quarter. Handelsbanken Fonder AB now owns 141,365 shares of the biopharmaceutical company’s stock worth $10,397,000 after buying an additional 23,000 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Bristol-Myers Squibb by 1.1% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,460,780 shares of the biopharmaceutical company’s stock worth $107,440,000 after buying an additional 15,313 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Bristol-Myers Squibb by 1.9% in the first quarter. Geode Capital Management LLC now owns 13,534,575 shares of the biopharmaceutical company’s stock worth $862,835,000 after buying an additional 254,653 shares during the last quarter. Institutional investors own 72.91% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.213% during trading on Friday, hitting $53.985. 5,260,338 shares of the stock traded hands. The firm has a market cap of $90.20 billion, a P/E ratio of 31.570 and a beta of 0.61. Bristol-Myers Squibb Co. has a 52 week low of $53.76 and a 52 week high of $77.12. The company has a 50-day moving average of $57.24 and a 200-day moving average of $67.13.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 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 had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The firm’s revenue was up 17.2% on a year-over-year basis. On average, analysts forecast that Bristol-Myers Squibb Co. will post $2.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
BMY has been the topic of a number of 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. reiterated a “buy” rating and issued a $75.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday. Deutsche Bank AG downgraded shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Citigroup Inc. cut their price target on shares of Bristol-Myers Squibb from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, September 20th. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $69.91.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $74.45, for a total value of $1,727,240.00. Following the transaction, the director now directly owns 380,099 shares of the company’s stock, valued at $28,298,370.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is owned by company 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.
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