Bristol-Myers Squibb Company (BMY) Shares Sold by First American Bank
First American Bank cut its position in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,679 shares of the biopharmaceutical company’s stock after selling 2,043 shares during the period. First American Bank’s holdings in Bristol-Myers Squibb were worth $1,486,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank raised its position in Bristol-Myers Squibb by 54.0% during the 1st quarter. Toronto Dominion Bank now owns 464,591 shares of the biopharmaceutical company’s stock valued at $25,264,000 after purchasing an additional 162,884 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Bristol-Myers Squibb by 1.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 201,037 shares of the biopharmaceutical company’s stock valued at $10,932,000 after purchasing an additional 3,833 shares in the last quarter. Meridian Management Co. raised its position in Bristol-Myers Squibb by 1.5% during the 1st quarter. Meridian Management Co. now owns 51,770 shares of the biopharmaceutical company’s stock valued at $2,815,000 after purchasing an additional 770 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at $6,150,000. Finally, Tobam raised its position in Bristol-Myers Squibb by 124.5% during the 1st quarter. Tobam now owns 793,714 shares of the biopharmaceutical company’s stock valued at $43,163,000 after purchasing an additional 440,170 shares in the last quarter. 68.88% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on BMY. Cowen and Company reaffirmed a “hold” rating and set a $65.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday. BidaskClub raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $64.08 target price for the company in a research report on Thursday, August 17th. Finally, William Blair reaffirmed an “outperform” rating on shares of Bristol-Myers Squibb in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $62.66.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II purchased 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the purchase, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the sale, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.
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Shares of Bristol-Myers Squibb Company (NYSE:BMY) traded up 0.41% on Tuesday, reaching $62.96. The company had a trading volume of 2,066,666 shares. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $63.47. The firm’s 50 day moving average is $58.77 and its 200 day moving average is $55.98. The firm has a market capitalization of $103.25 billion, a PE ratio of 22.99 and a beta of 1.18.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.69 earnings per share. On average, equities research analysts expect that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is currently 56.73%.
Bristol-Myers Squibb 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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