Bristol-Myers Squibb Co. (BMY) Stake Cut by First Niagara Bank
First Niagara Bank cut its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 57,100 shares of the biopharmaceutical company’s stock after selling 989 shares during the period. Bristol-Myers Squibb comprises about 1.2% of First Niagara Bank’s holdings, making the stock its 26th largest position. First Niagara Bank’s holdings in Bristol-Myers Squibb were worth $4,199,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in shares of Bristol-Myers Squibb by 628.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,323,821 shares of the biopharmaceutical company’s stock worth $84,566,000 after buying an additional 1,142,200 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in Bristol-Myers Squibb during the first quarter valued at approximately $69,778,000. TIAA CREF Investment Management LLC increased 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. BlackRock Institutional Trust Company N.A. increased its position in 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 in the last quarter. Finally, Prudential Financial Inc. increased its position in Bristol-Myers Squibb by 19.3% in the first quarter. Prudential Financial Inc. now owns 4,815,446 shares of the biopharmaceutical company’s stock valued at $307,611,000 after buying an additional 779,000 shares in the last quarter. 72.91% of the stock is currently owned by institutional investors and hedge funds.
Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.47% on Thursday, hitting $55.05. The stock had a trading volume of 10,955,332 shares. The company has a 50-day moving average price of $56.51 and a 200-day moving average price of $66.84. Bristol-Myers Squibb Co. has a 1-year low of $53.56 and a 1-year high of $77.12. The stock has a market capitalization 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 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The business earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. Equities analysts predict that Bristol-Myers Squibb Co. will post $2.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
BMY has been the topic of several research reports. Deutsche Bank AG reiterated a “hold” rating on shares of Bristol-Myers Squibb in a report on Wednesday, June 15th. BMO Capital Markets reiterated a “market perform” rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a report on Saturday, September 3rd. Credit Suisse Group AG reiterated a “hold” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, August 15th. Zacks Investment Research downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Bristol-Myers Squibb in a report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $69.91.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was 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 owns 364,999 shares in the company, valued at $21,596,990.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.24% of the stock is owned by company insiders.
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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