Retirement Systems of Alabama lowered its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,017,730 shares of the biopharmaceutical company’s stock after selling 1,699 shares during the period. Retirement Systems of Alabama’s holdings in Bristol-Myers Squibb were worth $74,854,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in BMY. Jolley Asset Management LLC boosted its position 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 last quarter. Univest Corp of Pennsylvania acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth about $202,000. Windsor Financial Group LLC acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth about $205,000. Oakwood Capital Management LLC CA acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth about $210,000. Finally, Verus Financial Partners Inc. acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth about $218,000. Institutional investors own 72.88% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.94% on Friday, hitting $49.77. 13,848,384 shares of the stock traded hands. The stock has a 50-day moving average price of $55.09 and a 200 day moving average price of $66.31. Bristol-Myers Squibb Co. has a 12-month low of $49.12 and a 12-month high of $77.12. The stock has a market cap of $83.16 billion, a price-to-earnings ratio of 29.11 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, topping the 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 analysts’ expectations of $4.60 billion. During the same period last year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
A number of equities analysts have recently weighed in on the stock. 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. BMO Capital Markets reissued a “market perform” rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a research report on Saturday, September 3rd. Zacks Investment Research lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. SunTrust Banks Inc. lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $86.00 to $68.00 in a research report on Friday, August 5th. Finally, Berenberg Bank lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and cut their price objective for the company from $80.00 to $70.00 in a research report on Thursday, August 11th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $69.31.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the firm’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 in the company, valued at $19,022,958.13. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is currently 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.
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co. (NYSE:BMY).
Receive News & Ratings for Bristol-Myers Squibb Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb Co. and related companies with MarketBeat.com's FREE daily email newsletter.