Garcia Hamilton & Associates LP DE decreased its stake in Bristol-Myers Squibb Co. (NYSE:BMY) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 36,678 shares of the biopharmaceutical company’s stock after selling 1,401 shares during the period. Bristol-Myers Squibb comprises about 1.6% of Garcia Hamilton & Associates LP DE’s investment portfolio, making the stock its 21st largest position. Garcia Hamilton & Associates LP DE’s holdings in Bristol-Myers Squibb were worth $2,698,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in shares of Bristol-Myers Squibb by 3,905.1% in the second quarter. Tower Research Capital LLC TRC now owns 28,997 shares of the biopharmaceutical company’s stock worth $2,133,000 after buying an additional 28,273 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Bristol-Myers Squibb during the second quarter worth about $41,666,000. Wilkins Investment Counsel Inc. raised its stake in shares of Bristol-Myers Squibb by 0.9% in the second quarter. Wilkins Investment Counsel Inc. now owns 5,867 shares of the biopharmaceutical company’s stock worth $432,000 after buying an additional 50 shares in the last quarter. PineBridge Investments L.P. raised its stake in shares of Bristol-Myers Squibb by 54.1% in the second quarter. PineBridge Investments L.P. now owns 9,704 shares of the biopharmaceutical company’s stock worth $714,000 after buying an additional 3,405 shares in the last quarter. Finally, Fayez Sarofim & Co. raised its stake in shares of Bristol-Myers Squibb by 20.0% in the second quarter. Fayez Sarofim & Co. now owns 25,375 shares of the biopharmaceutical company’s stock worth $1,866,000 after buying an additional 4,236 shares in the last quarter. 72.88% of the stock is owned by institutional investors.
Bristol-Myers Squibb Co. (NYSE:BMY) opened at 50.24 on Friday. The stock has a market cap of $83.94 billion, a PE ratio of 29.38 and a beta of 0.74. Bristol-Myers Squibb Co. has a 52 week low of $49.12 and a 52 week high of $77.12. The stock has a 50 day moving average price of $55.34 and a 200 day moving average price of $66.40.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The firm earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. On average, equities analysts predict that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current year.
The company 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 dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is currently 87.36%.
Several analysts recently weighed in on the company. Goldman Sachs Group Inc. restated a “buy” rating on shares of Bristol-Myers Squibb in a report on Wednesday, July 6th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Wednesday, July 13th. Berenberg Bank restated a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Citigroup Inc. decreased their price objective on Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. Finally, Leerink Swann restated a “buy” rating and issued a $85.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $69.31.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $59.17, for a total transaction of $1,372,744.00. Following the completion of the transaction, the director now directly owns 364,999 shares of the company’s stock, valued at approximately $21,596,990.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.
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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