Bank of The West boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 26.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 106,296 shares of the biopharmaceutical company’s stock after acquiring an additional 22,489 shares during the quarter. Bank of The West’s holdings in Bristol-Myers Squibb were worth $7,103,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in BMY. OLD Mission Capital LLC acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $234,000. Blueshift Asset Management LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth $1,405,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Bristol-Myers Squibb by 0.7% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 146,750 shares of the biopharmaceutical company’s stock worth $9,264,000 after purchasing an additional 1,020 shares during the last quarter. Clarus Group Inc. acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth $228,000. Finally, Swiss National Bank boosted its stake in Bristol-Myers Squibb by 2.1% during the 1st quarter. Swiss National Bank now owns 8,803,888 shares of the biopharmaceutical company’s stock worth $555,789,000 after purchasing an additional 180,500 shares during the last quarter. 72.10% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on BMY shares. Truist started coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. They set a “buy” rating and a $74.00 target price on the stock. Truist Securities started coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. They set a “buy” rating and a $74.00 target price on the stock. Bank of America reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. Finally, Morgan Stanley lifted their target price on shares of Bristol-Myers Squibb from $62.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 29th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $73.83.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Tuesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.04. The firm had revenue of $11.70 billion for the quarter, compared to analyst estimates of $11.24 billion. Bristol-Myers Squibb had a negative net margin of 11.44% and a positive return on equity of 37.76%. On average, analysts predict that Bristol-Myers Squibb will post 7.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Friday, October 1st will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $1.96 annualized dividend and a yield of 3.23%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 30.43%.
In related news, CFO David V. Elkins sold 99,691 shares of the business’s stock in a transaction dated Thursday, August 12th. The shares were sold at an average price of $66.95, for a total value of $6,674,312.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.
About Bristol-Myers Squibb
Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.
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