Boston Advisors LLC raised its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 247.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 561,927 shares of the biopharmaceutical company’s stock after buying an additional 400,099 shares during the period. Bristol-Myers Squibb accounts for 1.0% of Boston Advisors LLC’s portfolio, making the stock its 13th largest position. Boston Advisors LLC’s holdings in Bristol-Myers Squibb were worth $41,330,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Jolley Asset Management LLC raised its position in 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 valued at $154,000 after buying an additional 80 shares during the period. Univest Corp of Pennsylvania acquired a new position in Bristol-Myers Squibb during the second quarter valued at $202,000. Smith & Howard Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the first quarter valued at $204,000. Windsor Financial Group LLC acquired a new position in Bristol-Myers Squibb during the second quarter valued at $205,000. Finally, Oakwood Capital Management LLC CA acquired a new position in Bristol-Myers Squibb during the second quarter valued at $210,000. Institutional investors own 72.88% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.94% during midday trading on Friday, hitting $49.77. 13,848,384 shares of the stock traded hands. The company has a market capitalization of $83.16 billion, a PE ratio of 29.11 and a beta of 0.74. The firm’s 50 day moving average price is $55.09 and its 200 day moving average price is $66.31. Bristol-Myers Squibb Co. has a 12-month low of $49.12 and a 12-month high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The business earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same period in the previous year, the firm earned $0.53 EPS. Bristol-Myers Squibb’s quarterly revenue was up 17.2% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 87.36%.
BMY has been the subject of several recent analyst reports. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Wednesday, July 6th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Wednesday, July 13th. Berenberg Bank reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Citigroup Inc. decreased their target price on shares of Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. Finally, Leerink Swann reiterated a “buy” rating and issued a $85.00 target price on shares of Bristol-Myers Squibb in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $69.31.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.
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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