Ropes Wealth Advisors LLC Has $6,265,000 Position in Bristol-Myers Squibb Co. (BMY)
Ropes Wealth Advisors LLC raised its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 26.2% during the second quarter, Holdings Channel reports. The institutional investor owned 85,184 shares of the biopharmaceutical company’s stock after buying an additional 17,711 shares during the period. Bristol-Myers Squibb accounts for 2.2% of Ropes Wealth Advisors LLC’s portfolio, making the stock its 9th largest position. Ropes Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $6,265,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol-Myers Squibb during the second quarter worth $163,000. Solaris Asset Management LLC increased 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 during the period. Jackson Grant Investment Advisers Inc. increased 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 during the period. Finally, Madrona Financial Services LLC purchased a new stake in Bristol-Myers Squibb during the second quarter worth $200,000. 72.91% of the stock is currently owned by institutional investors.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.957% during trading on Thursday, hitting $56.465. 6,622,655 shares of the stock traded hands. Bristol-Myers Squibb Co. has a 1-year low of $55.02 and a 1-year high of $77.12. The firm has a 50-day moving average of $59.04 and a 200-day moving average of $67.58. The firm has a market capitalization of $94.35 billion, a price-to-earnings ratio of 33.020 and a beta of 0.61.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. On average, equities analysts forecast that Bristol-Myers Squibb Co. will post $2.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.72%. Bristol-Myers Squibb’s dividend payout ratio is 87.36%.
A number of research firms recently weighed in on BMY. Vetr raised Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 target price on the stock in a research report on Monday, July 25th. Deutsche Bank AG reissued a “hold” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, June 15th. BMO Capital Markets reissued a “market perform” rating and set a $60.00 target price on shares of Bristol-Myers Squibb in a research report on Saturday, September 3rd. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Wednesday, July 13th. Finally, SunTrust Banks Inc. downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $86.00 to $68.00 in a research report on Friday, August 5th. 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 issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $69.64.
In related news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $74.45, for a total value of $1,727,240.00. Following the completion of the transaction, the director now owns 380,099 shares of the company’s stock, valued at approximately $28,298,370.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate 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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