RNC Capital Management LLC decreased its position in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 701,295 shares of the biopharmaceutical company’s stock after selling 12,659 shares during the period. RNC Capital Management LLC’s holdings in Bristol Myers Squibb were worth $32,463,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in BMY. Trifecta Capital Advisors LLC bought a new position in Bristol Myers Squibb during the 2nd quarter worth $25,000. REAP Financial Group LLC increased its position in shares of Bristol Myers Squibb by 202.8% in the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 428 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb in the first quarter worth $31,000. Accent Capital Management LLC bought a new position in shares of Bristol Myers Squibb in the first quarter worth $33,000. Finally, CBIZ Investment Advisory Services LLC increased its position in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 231 shares during the period. Institutional investors own 76.41% of the company’s stock.
Bristol Myers Squibb Stock Performance
Shares of BMY stock opened at $44.36 on Thursday. The business’s 50-day moving average price is $45.92 and its 200-day moving average price is $47.28. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The firm has a market capitalization of $90.29 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.32 and a beta of 0.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.
Bristol Myers Squibb Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is currently 100.00%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Finally, Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.23.
Read Our Latest Stock Analysis on BMY
Insider Activity at Bristol Myers Squibb
In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.
Bristol Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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