State Treasurer State of Michigan cut its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 808,117 shares of the biopharmaceutical company’s stock after selling 8,000 shares during the period. State Treasurer State of Michigan’s holdings in Bristol-Myers Squibb were worth $45,028,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American National Bank increased its position in shares of 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 last quarter. Welch Investments LLC increased its position in shares of 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 last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $116,000. Blue Chip Partners Inc. increased its position in shares of 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 last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Bristol-Myers Squibb by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 504 shares during the last quarter. 69.79% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Company (NYSE:BMY) traded down 0.84% during trading on Thursday, hitting $56.92. 2,305,979 shares of the company’s stock were exchanged. The company has a market cap of $93.34 billion, a price-to-earnings ratio of 20.79 and a beta of 1.17. Bristol-Myers Squibb Company has a 52-week low of $46.01 and a 52-week high of $61.30. The firm has a 50 day moving average price of $55.81 and a 200 day moving average price of $54.58.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. On average, equities research analysts predict that Bristol-Myers Squibb Company will post $2.97 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 56.73%.

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A number of analysts have recently issued reports on the stock. BidaskClub raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Deutsche Bank AG set a $55.00 price objective on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Monday, July 17th. BMO Capital Markets downgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “underperform” rating and set a $47.00 price objective for the company. in a report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday, July 12th. Finally, Vetr downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $63.81 price objective for the company. in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $62.67.

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were acquired at an average price of $55.94 per share, with a total value of $335,640.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

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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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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