Tower Bridge Advisors lessened its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 196,550 shares of the biopharmaceutical company’s stock after selling 4,045 shares during the quarter. Bristol-Myers Squibb comprises 1.4% of Tower Bridge Advisors’ investment portfolio, making the stock its 22nd biggest holding. Tower Bridge Advisors’ holdings in Bristol-Myers Squibb were worth $12,528,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC grew its stake in shares of Bristol-Myers Squibb by 34.6% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 500 shares during the last quarter. Atlantic Trust LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $111,000. American National Bank grew its stake in shares of Bristol-Myers Squibb by 11.7% in the 2nd quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 225 shares during the last quarter. Blue Chip Partners Inc. grew its stake in shares of Bristol-Myers Squibb by 0.7% in the 2nd quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 15 shares during the last quarter. Finally, BDO Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $123,000. Hedge funds and other institutional investors own 69.67% of the company’s stock.
Several research analysts have weighed in on BMY shares. SunTrust Banks upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Wednesday, November 1st. Barclays lifted their target price on Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. BMO Capital Markets set a $49.00 target price on Bristol-Myers Squibb and gave the company a “sell” rating in a research note on Thursday, October 26th. Finally, Leerink Swann lifted their target price on Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $65.05.
In related news, EVP Sandra Leung sold 156,582 shares of Bristol-Myers Squibb stock in a transaction on Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the transaction, the executive vice president now directly owns 584,373 shares of the company’s stock, valued at $37,031,717.01. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of Bristol-Myers Squibb stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total value of $335,172.00. Following the transaction, the executive vice president now directly owns 9,251 shares of the company’s stock, valued at $585,033.24. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.
Shares of Bristol-Myers Squibb Co (NYSE BMY) opened at $62.81 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $102,800.00, a P/E ratio of 24.73, a PEG ratio of 2.22 and a beta of 1.18. Bristol-Myers Squibb Co has a 1-year low of $46.01 and a 1-year high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share. sell-side analysts anticipate that Bristol-Myers Squibb Co will post 2.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be issued a $0.40 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.99%.
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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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