PGGM Investments increased its stake in Bristol-Myers Squibb Co. (NYSE:BMY) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 1,321,858 shares of the biopharmaceutical company’s stock after buying an additional 17,200 shares during the period. PGGM Investments’ holdings in Bristol-Myers Squibb were worth $97,223,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Williams Jones & Associates LLC raised 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. Sii Investments Inc. WI raised its position in Bristol-Myers Squibb by 100.0% in the first quarter. Sii Investments Inc. WI now owns 33,090 shares of the biopharmaceutical company’s stock valued at $2,115,000 after buying an additional 16,542 shares during the last quarter. Investment Centers of America Inc. raised its position in Bristol-Myers Squibb by 30.3% in the first quarter. Investment Centers of America Inc. now owns 51,819 shares of the biopharmaceutical company’s stock valued at $3,310,000 after buying an additional 12,043 shares during the last quarter. Wade G W & Inc. raised its position in Bristol-Myers Squibb by 7.9% in the first quarter. Wade G W & Inc. now owns 22,081 shares of the biopharmaceutical company’s stock valued at $1,411,000 after buying an additional 1,616 shares during the last quarter. Finally, RKL Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the first quarter valued at approximately $319,000. 72.88% of the stock is owned by institutional investors.
Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.93% during trading on Wednesday, reaching $50.01. 18,134,010 shares of the company were exchanged. The firm’s 50 day moving average is $55.86 and its 200 day moving average is $66.63. Bristol-Myers Squibb Co. has a 52-week low of $49.50 and a 52-week high of $77.12. The stock has a market capitalization of $83.56 billion, a PE ratio of 29.25 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last released 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. 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%. The business’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. Analysts expect that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 87.36%.
Several research analysts have recently commented on the stock. Vetr raised shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective for the company in a research note on Monday, July 25th. Deutsche Bank AG reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, June 15th. BMO Capital Markets reiterated a “market perform” rating and issued a $60.00 price target on shares of Bristol-Myers Squibb in a research note on Saturday, September 3rd. Zacks Investment Research downgraded 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. downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock 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, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $69.31.
In other news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $21,596,990.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.
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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