Davis R M Inc. Has $1.14 Million Stake in Bristol-Myers Squibb Company (BMY)
Davis R M Inc. lessened its position in Bristol-Myers Squibb Company (NYSE:BMY) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,428 shares of the biopharmaceutical company’s stock after selling 7,250 shares during the quarter. Davis R M Inc.’s holdings in Bristol-Myers Squibb were worth $1,138,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Welch Investments LLC lifted its holdings in Bristol-Myers Squibb by 3.9% during the 1st 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 in the last quarter. Blue Chip Partners Inc. lifted its holdings in Bristol-Myers Squibb by 0.8% during the 1st 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 in the last quarter. Proficio Capital Partners LLC lifted its holdings in Bristol-Myers Squibb by 29.6% during the 1st 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 in the last quarter. American National Bank lifted its holdings in Bristol-Myers Squibb by 11.7% during the 2nd quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 225 shares in the last quarter. Finally, Heritage Trust Co bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at about $123,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.
Bristol-Myers Squibb Company (BMY) opened at 65.29 on Monday. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $66.10. The stock has a market cap of $107.07 billion, a P/E ratio of 23.85 and a beta of 1.19. The stock has a 50 day moving average of $62.78 and a 200-day moving average of $56.98.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. On average, equities analysts forecast that Bristol-Myers Squibb Company will post $2.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.56 annualized dividend and a yield of 2.39%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 56.73%.
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A number of equities research analysts recently weighed in on the stock. Barclays PLC lifted their price objective on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday. BMO Capital Markets set a $49.00 price objective on shares of Bristol-Myers Squibb and gave the company a “sell” rating in a report on Thursday. Vetr upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $67.92 price objective for the company in a report on Monday, October 9th. UBS AG reiterated a “buy” rating and set a $72.00 price objective (up previously from $62.00) on shares of Bristol-Myers Squibb in a report on Friday, October 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $63.21.
In related news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $1,006,920. The disclosure for this purchase can be found here. 0.23% of the stock is owned by company insiders.
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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