Feltz Wealth PLAN Inc. Takes Position in Bristol-Myers Squibb Co. (BMY)
Feltz Wealth PLAN Inc. bought a new stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) during the second quarter, Holdings Channel reports. The institutional investor bought 23,840 shares of the biopharmaceutical company’s stock, valued at approximately $1,078,000.
Other hedge funds have also modified their holdings of the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of Bristol-Myers Squibb by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 44,742,184 shares of the biopharmaceutical company’s stock valued at $2,858,131,000 after buying an additional 844,233 shares during the period. Jennison Associates LLC boosted its position in Bristol-Myers Squibb by 4.1% in the second quarter. Jennison Associates LLC now owns 28,064,140 shares of the biopharmaceutical company’s stock valued at $2,064,118,000 after buying an additional 1,099,210 shares in the last quarter. BlackRock Group LTD boosted its position in Bristol-Myers Squibb by 0.3% in the first quarter. BlackRock Group LTD now owns 15,139,964 shares of the biopharmaceutical company’s stock valued at $967,140,000 after buying an additional 38,123 shares in the last quarter. Geode Capital Management LLC boosted its position in Bristol-Myers Squibb by 1.9% in the first quarter. Geode Capital Management LLC now owns 13,534,575 shares of the biopharmaceutical company’s stock valued at $862,835,000 after buying an additional 254,653 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Bristol-Myers Squibb by 9.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,372,071 shares of the biopharmaceutical company’s stock valued at $662,568,000 after buying an additional 921,866 shares in the last quarter. 72.91% of the stock is currently owned by institutional investors.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.819% on Wednesday, reaching $56.015. The company had a trading volume of 9,231,010 shares. The company has a market capitalization of $93.59 billion, a P/E ratio of 32.757 and a beta of 0.61. The company has a 50 day moving average of $59.58 and a 200-day moving average of $67.67. Bristol-Myers Squibb Co. has a 52 week low of $55.02 and a 52 week high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. The company earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. Analysts predict that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. Bristol-Myers Squibb’s dividend payout ratio is currently 87.36%.
BMY has been the subject of several research analyst reports. Deutsche Bank AG restated a “hold” rating on shares of Bristol-Myers Squibb in a report on Wednesday, June 15th. BMO Capital Markets restated a “market perform” rating and set a $60.00 price target on shares of Bristol-Myers Squibb in a report on Saturday, September 3rd. Credit Suisse Group AG restated a “hold” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Monday, August 15th. Zacks Investment Research cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Morgan Stanley restated a “hold” rating on shares of Bristol-Myers Squibb in a report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $69.64.
In other news, Director Lamberto Andreotti sold 21,600 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the transaction, the director now directly owns 334,499 shares in the company, valued at $19,022,958.13. The transaction was disclosed in a document filed with the SEC, which is available at 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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