Sowell Financial Services LLC Purchases 2,326 Shares of Bristol-Myers Squibb Company (BMY)
Sowell Financial Services LLC boosted its stake in Bristol-Myers Squibb Company (NYSE:BMY) by 58.9% during the first quarter, Holdings Channel reports. The fund owned 6,272 shares of the biopharmaceutical company’s stock after buying an additional 2,326 shares during the period. Sowell Financial Services LLC’s holdings in Bristol-Myers Squibb were worth $338,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in BMY. American National Bank raised its stake 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 raised its stake 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 stake in shares of Bristol-Myers Squibb during the first quarter valued at $116,000. Blue Chip Partners Inc. raised its stake 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 raised its stake 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. 69.68% of the stock is currently owned by institutional investors.
Shares of Bristol-Myers Squibb Company (NYSE:BMY) traded up 0.19% during trading on Friday, reaching $56.88. The company’s stock had a trading volume of 1,636,598 shares. Bristol-Myers Squibb Company has a 52-week low of $46.01 and a 52-week high of $60.45. The firm’s 50-day moving average is $55.93 and its 200 day moving average is $54.91. The company has a market cap of $93.28 billion, a PE ratio of 20.77 and a beta of 1.17. Bristol-Myers Squibb also was the target of unusually large options trading on Thursday. Stock investors purchased 781 put options on the company. This is an increase of approximately 117% compared to the typical daily volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 return on equity of 32.33% and a net margin of 22.66%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. On average, equities research analysts predict that Bristol-Myers Squibb Company will post $2.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently 56.73%.
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BMY has been the topic of several recent research reports. Jefferies Group LLC reissued a “buy” rating and set a $64.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, June 5th. Vetr lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $59.88 price objective on the stock. in a report on Monday, April 24th. BidaskClub raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday, August 9th. Finally, Cowen and Company set a $65.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $62.12.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $55.94 per share, with a total value of $335,640.00. Following 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 can be accessed through this link. Company 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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