Bristol-Myers Squibb Co. (BMY) Shares Bought by RKL Wealth Management LLC
RKL Wealth Management LLC increased its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 10.0% during the second quarter, Holdings Channel reports. The fund owned 5,496 shares of the biopharmaceutical company’s stock after buying an additional 500 shares during the period. RKL Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $400,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in BMY. Jolley Asset Management LLC raised its position in 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. Univest Corp of Pennsylvania acquired a new position in Bristol-Myers Squibb during the second quarter valued at approximately $202,000. Smith & Howard Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the first quarter valued at approximately $204,000. Windsor Financial Group LLC acquired a new position in Bristol-Myers Squibb during the second quarter valued at approximately $205,000. Finally, Balentine LLC raised its position in Bristol-Myers Squibb by 45.2% in the first quarter. Balentine LLC now owns 3,356 shares of the biopharmaceutical company’s stock valued at $214,000 after buying an additional 1,045 shares during the period. Institutional investors and hedge funds own 72.91% of the company’s stock.
Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.47% during midday trading on Thursday, hitting $55.05. 10,955,332 shares of the stock were exchanged. Bristol-Myers Squibb Co. has a 52 week low of $53.56 and a 52 week high of $77.12. The firm’s 50-day moving average is $56.51 and its 200 day moving average is $66.84. The stock has a market cap of $91.98 billion, a price-to-earnings ratio of 32.19 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 16.63% and a return on equity of 24.92%. The business’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 EPS. Equities research analysts expect that Bristol-Myers Squibb Co. will post $2.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 87.36%.
Several equities analysts recently commented on BMY shares. Morgan Stanley reissued a “hold” rating on shares of Bristol-Myers Squibb in a report on Thursday, August 25th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $75.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, September 27th. Deutsche Bank AG lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Friday, August 5th. Citigroup Inc. dropped their price objective on Bristol-Myers Squibb from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, September 20th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $69.91.
In other news, Director Lamberto Andreotti sold 23,200 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $59.17, for a total value of $1,372,744.00. Following the completion of the sale, the director now directly owns 364,999 shares of the company’s stock, valued at approximately $21,596,990.83. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by insiders.
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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