First Interstate Bank raised its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,079 shares of the biopharmaceutical company’s stock after buying an additional 743 shares during the period. Bristol-Myers Squibb comprises 1.7% of First Interstate Bank’s portfolio, making the stock its 20th largest position. First Interstate Bank’s holdings in Bristol-Myers Squibb were worth $8,170,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jolley Asset Management LLC boosted its stake in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth $163,000. Solaris Asset Management LLC boosted its stake in shares of Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 75 shares during the period. Jackson Grant Investment Advisers Inc. boosted its stake in shares of Bristol-Myers Squibb by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,353 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 12 shares during the period. Finally, Madrona Financial Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth $200,000. Institutional investors own 72.91% of the company’s stock.
Bristol-Myers Squibb Co. (NYSE:BMY) traded up 1.79% during trading on Tuesday, reaching $55.64. 4,650,066 shares of the company were exchanged. The firm has a market cap of $92.97 billion, a price-to-earnings ratio of 32.54 and a beta of 0.75. Bristol-Myers Squibb Co. has a 52-week low of $53.56 and a 52-week high of $77.12. The firm has a 50-day moving average of $56.87 and a 200-day moving average of $67.07.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The company earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 17.2% on a year-over-year basis. On average, equities analysts forecast that Bristol-Myers Squibb Co. will post $2.62 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is presently 87.36%.
A number of brokerages recently weighed in on BMY. SunTrust Banks Inc. cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $86.00 to $68.00 in a research report on Friday, August 5th. Morgan Stanley cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 price objective for the company. in a research report on Friday, August 5th. Deutsche Bank AG reissued a “hold” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, June 15th. Berenberg Bank reissued a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Finally, Vetr raised shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective for the company in a research report on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.91.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the transaction, the director now directly owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by company insiders.
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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