Lau Associates LLC lessened its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 6.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,700 shares of the biopharmaceutical company’s stock after selling 566 shares during the period. Lau Associates LLC’s holdings in Bristol-Myers Squibb were worth $485,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in BMY. Ameriprise Financial Inc. grew its holdings in Bristol-Myers Squibb by 18.7% during the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after purchasing an additional 2,451,390 shares during the period. Swiss National Bank grew its holdings in Bristol-Myers Squibb by 27.2% during the first quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock valued at $322,020,000 after purchasing an additional 1,267,900 shares during the period. State Street Corp grew its holdings in Bristol-Myers Squibb by 1.8% during the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after purchasing an additional 1,223,457 shares during the period. Karp Capital Management Corp bought a new stake in Bristol-Myers Squibb during the first quarter valued at about $38,890,000. Finally, Canada Pension Plan Investment Board grew its holdings in Bristol-Myers Squibb by 23.8% during the first quarter. Canada Pension Plan Investment Board now owns 3,362,609 shares of the biopharmaceutical company’s stock valued at $182,859,000 after purchasing an additional 646,000 shares during the period. 68.80% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the sale, the senior vice president now directly owns 46,297 shares in the company, valued at approximately $2,777,820. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Theodore R. Samuels II acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at approximately $1,006,920. The disclosure for this purchase can be found here. Insiders own 0.23% of the company’s stock.
Several analysts have issued reports on the company. Hilliard Lyons lowered Bristol-Myers Squibb from a “long-term buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Tuesday. Jefferies Group LLC boosted their price target on Bristol-Myers Squibb from $66.00 to $72.00 and gave the company a “buy” rating in a report on Monday, September 11th. Credit Suisse Group reissued a “hold” rating on shares of Bristol-Myers Squibb in a report on Friday, September 8th. Vetr lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $64.20 price target for the company. in a report on Thursday, September 7th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $65.00 price target (up previously from $62.00) on shares of Bristol-Myers Squibb in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $62.66.
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Bristol-Myers Squibb Company (NYSE BMY) traded down 0.33% during midday trading on Friday, hitting $62.48. The company had a trading volume of 10,407,558 shares. The company has a 50 day moving average price of $58.56 and a 200 day moving average price of $55.95. Bristol-Myers Squibb Company has a 1-year low of $46.01 and a 1-year high of $63.47. The firm has a market capitalization of $102.46 billion, a P/E ratio of 22.82 and a beta of 1.18. Bristol-Myers Squibb also saw unusually large options trading on Thursday. Traders purchased 781 put options on the stock. This represents an increase of 117% compared to the typical daily volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the previous year, the firm posted $0.69 EPS. Bristol-Myers Squibb’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts forecast that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is 56.73%.
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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