Segment Wealth Management LLC raised its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 17.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,225 shares of the biopharmaceutical company’s stock after buying an additional 925 shares during the period. Segment Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $458,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of BMY. 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 during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at about $163,000. Solaris Asset Management LLC increased its stake in shares of 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 valued at $165,000 after buying an additional 75 shares during the period. Jackson Grant Investment Advisers Inc. increased its stake in shares of 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 valued at $173,000 after buying an additional 12 shares during the period. Finally, Madrona Financial Services LLC purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at about $200,000. Institutional investors own 72.91% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.09% during trading on Friday, hitting $53.92. 13,326,712 shares of the stock were exchanged. The firm has a market capitalization of $90.09 billion, a price-to-earnings ratio of 31.53 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 stock’s 50 day moving average price is $57.04 and its 200 day moving average price is $67.06.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. Bristol-Myers Squibb’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, equities analysts predict that Bristol-Myers Squibb Co. will post $2.62 earnings per share for the current year.
The company 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 dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis 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%.
Several equities research analysts recently issued reports on the stock. Morgan Stanley downgraded shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a research note on Friday, August 5th. Jefferies Group reissued a “hold” rating and issued a $57.00 price target (down from $69.00) on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Berenberg Bank reissued a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Finally, Barclays PLC lowered their price target on shares of Bristol-Myers Squibb from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, September 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $69.91.
In related news, Director Lamberto Andreotti sold 21,600 shares of the company’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 transaction of $1,228,392.00. Following the sale, the director now owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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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