Conning Inc. reduced its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 13.3% during the second quarter, Holdings Channel reports. The fund owned 46,286 shares of the biopharmaceutical company’s stock after selling 7,120 shares during the period. Conning Inc.’s holdings in Bristol-Myers Squibb were worth $3,404,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jolley Asset Management LLC increased its stake in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 80 shares in the last quarter. Univest Corp of Pennsylvania purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $202,000. Windsor Financial Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $205,000. Oakwood Capital Management LLC CA purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $210,000. Finally, Verus Financial Partners Inc. purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $218,000. Institutional investors own 72.88% of the company’s stock.
Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.46% during mid-day trading on Thursday, reaching $50.24. 15,095,791 shares of the company’s stock were exchanged. The company has a market cap of $83.94 billion, a PE ratio of 29.38 and a beta of 0.74. The stock has a 50-day moving average price of $55.58 and a 200 day moving average price of $66.51. Bristol-Myers Squibb Co. has a 52-week low of $49.12 and a 52-week high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The company earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. Bristol-Myers Squibb’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. Equities analysts predict that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.03%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
Several analysts recently weighed in on the stock. Vetr upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective on the stock in a research report on Monday, July 25th. Deutsche Bank AG reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, June 15th. BMO Capital Markets reiterated a “market perform” rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a research report on Saturday, September 3rd. Zacks Investment Research cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Finally, SunTrust Banks Inc. cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $86.00 to $68.00 in a research note on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.31.
In other news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the sale, the director now directly owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by insiders.
Bristol-Myers Squibb Company Profile
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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