Fayez Sarofim & Co. Raises Position in Bristol-Myers Squibb Co. (BMY)
Fayez Sarofim & Co. raised its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 20.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,375 shares of the biopharmaceutical company’s stock after buying an additional 4,236 shares during the period. Fayez Sarofim & Co.’s holdings in Bristol-Myers Squibb were worth $1,866,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. raised its position in shares of Bristol-Myers Squibb by 16.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 52,762 shares of the biopharmaceutical company’s stock valued at $3,881,000 after buying an additional 7,303 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock valued at $8,057,758,000 after buying an additional 3,595,648 shares during the last quarter. Carret Asset Management LLC raised its position in shares of Bristol-Myers Squibb by 0.5% in the second quarter. Carret Asset Management LLC now owns 39,500 shares of the biopharmaceutical company’s stock valued at $2,905,000 after buying an additional 193 shares during the last quarter. Hutchens Investment Management Inc bought a new position in shares of Bristol-Myers Squibb during the second quarter valued at $2,118,000. Finally, Benchmark Capital Advisors raised its position in shares of Bristol-Myers Squibb by 20.9% in the second quarter. Benchmark Capital Advisors now owns 61,034 shares of the biopharmaceutical company’s stock valued at $4,489,000 after buying an additional 10,534 shares during the last quarter. Institutional investors and hedge funds own 72.88% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) opened at 49.55 on Wednesday. The firm has a market cap of $82.79 billion, a price-to-earnings ratio of 28.98 and a beta of 0.74. The stock has a 50 day moving average of $55.86 and a 200 day moving average of $66.63. Bristol-Myers Squibb Co. has a 52-week low of $49.50 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 Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The business earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the previous year, the company earned $0.53 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts predict that Bristol-Myers Squibb Co. will post $2.63 EPS for the current fiscal year.
The company also recently disclosed 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 3.07%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
Several research analysts have weighed in on BMY shares. Zacks Investment Research upgraded shares of 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. Berenberg Bank restated a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, July 6th. Citigroup Inc. lowered their target price on shares of Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Finally, Leerink Swann reiterated a “buy” rating and issued a $85.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, July 29th. 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 company. Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $69.31.
In other news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the sale, the director now directly owns 334,499 shares in the company, valued at $19,022,958.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by 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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