Prudential Financial Inc. lowered its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,248,123 shares of the biopharmaceutical company’s stock after selling 567,323 shares during the period. Prudential Financial Inc. owned about 0.25% of Bristol-Myers Squibb worth $312,450,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jolley Asset Management LLC increased its position 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 worth $154,000 after buying an additional 80 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol-Myers Squibb during the second quarter worth approximately $163,000. Solaris Asset Management LLC boosted its stake in Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 75 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in Bristol-Myers Squibb by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,353 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 12 shares in the last quarter. Finally, Madrona Financial Services LLC bought a new stake in Bristol-Myers Squibb during the second quarter worth approximately $200,000. Institutional investors own 72.88% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) opened at 50.48 on Monday. The firm’s 50-day moving average is $56.41 and its 200-day moving average is $66.79. Bristol-Myers Squibb Co. has a 12-month low of $50.29 and a 12-month high of $77.12. The firm has a market capitalization of $84.34 billion, a price-to-earnings ratio of 29.52 and a beta of 0.75.
Bristol-Myers Squibb (NYSE:BMY) last released its 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. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The firm earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Bristol-Myers Squibb’s revenue was up 17.2% compared to the same quarter last year. Equities research analysts forecast that Bristol-Myers Squibb Co. will post $2.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Bristol-Myers Squibb’s payout ratio is 87.36%.
A number of analysts have recently commented on BMY shares. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Wednesday, July 13th. Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, July 12th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. Citigroup Inc. dropped their price objective on shares of Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Finally, Leerink Swann reaffirmed a “buy” rating and set a $85.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $69.61.
In related news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were 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 in the company, valued at $19,022,958.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently 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.
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.