Poplar Forest Capital LLC Has $1.34 Million Stake in Bristol-Myers Squibb Company (BMY)
Poplar Forest Capital LLC cut its stake in Bristol-Myers Squibb Company (NYSE:BMY) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,550 shares of the biopharmaceutical company’s stock after selling 48 shares during the period. Poplar Forest Capital LLC’s holdings in Bristol-Myers Squibb were worth $1,335,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of BMY. American National Bank raised its stake in Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares during the period. Welch Investments LLC raised its stake in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the period. Crestwood Advisors Group LLC purchased a new stake in Bristol-Myers Squibb during the first quarter valued at $116,000. Blue Chip Partners Inc. raised its stake in Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Bristol-Myers Squibb by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,229 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 60 shares during the period. Institutional investors own 69.79% of the company’s stock.
Bristol-Myers Squibb Company (NYSE BMY) traded up 0.137% on Wednesday, reaching $56.988. 447,407 shares of the company were exchanged. Bristol-Myers Squibb Company has a 12-month low of $46.01 and a 12-month high of $63.65. The company’s 50-day moving average price is $55.66 and its 200-day moving average price is $54.52. The stock has a market capitalization of $93.46 billion, a P/E ratio of 20.814 and a beta of 1.17.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. Equities research analysts anticipate that Bristol-Myers Squibb Company will post $2.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, July 5th. This represents a $1.56 annualized dividend and a yield of 2.74%. Bristol-Myers Squibb’s payout ratio is 56.73%.
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Several equities research analysts have weighed in on the stock. BidaskClub lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Leerink Swann cut their target price on shares of Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. Vetr lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 target price on the stock. in a report on Tuesday, July 25th. BMO Capital Markets reiterated an “underperform” rating and issued a $47.00 target price (down from $51.00) on shares of Bristol-Myers Squibb in a report on Wednesday, July 26th. Finally, Piper Jaffray Companies set a $60.00 price objective on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.33.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II acquired 6,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at approximately $1,006,920. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.23% 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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