Family Management Corp Sells 850 Shares of Bristol-Myers Squibb Co (NYSE:BMY)

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Family Management Corp reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 4.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,546 shares of the biopharmaceutical company’s stock after selling 850 shares during the period. Family Management Corp’s holdings in Bristol-Myers Squibb were worth $750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lodestar Investment Counsel LLC IL lifted its holdings in shares of Bristol-Myers Squibb by 5.2% during the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock worth $5,157,000 after acquiring an additional 5,579 shares during the last quarter. Perella Weinberg Partners Capital Management LP increased its position in shares of Bristol-Myers Squibb by 10.9% in the first quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 1,905 shares during the period. Cypress Capital Management LLC increased its position in shares of Bristol-Myers Squibb by 21.2% in the second quarter. Cypress Capital Management LLC now owns 154,335 shares of the biopharmaceutical company’s stock valued at $6,999,000 after acquiring an additional 26,990 shares during the period. Stephens Inc. AR increased its position in shares of Bristol-Myers Squibb by 30.7% in the first quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock valued at $10,331,000 after acquiring an additional 50,798 shares during the period. Finally, Nachman Norwood & Parrott Inc increased its position in shares of Bristol-Myers Squibb by 3.5% in the second quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock valued at $2,285,000 after acquiring an additional 1,687 shares during the period. 80.16% of the stock is owned by institutional investors.

A number of research firms have issued reports on BMY. Goldman Sachs Group began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, May 28th. They issued a “buy” rating and a $54.00 price objective on the stock. TheStreet upgraded shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday. UBS Group decreased their price objective on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, June 13th. Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a research report on Wednesday, August 14th. Finally, ValuEngine upgraded shares of Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $55.74.

In related news, Director Robert J. Bertolini acquired 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the transaction, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Shares of NYSE BMY traded up $0.62 during midday trading on Friday, hitting $50.69. The stock had a trading volume of 2,542,224 shares, compared to its average volume of 9,084,709. The business’s 50 day moving average is $47.55 and its 200-day moving average is $47.09. The company has a market cap of $81.36 billion, a P/E ratio of 12.73, a PEG ratio of 2.45 and a beta of 0.70. Bristol-Myers Squibb Co has a 52 week low of $42.48 and a 52 week high of $63.69. The company has a quick ratio of 3.75, a current ratio of 3.88 and a debt-to-equity ratio of 1.51.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.12. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. As a group, analysts expect that Bristol-Myers Squibb Co will post 4.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.41 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.64 annualized dividend and a dividend yield of 3.24%. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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