HL Financial Services LLC Trims Holdings in Bristol-Myers Squibb Company (BMY)

HL Financial Services LLC reduced its position in Bristol-Myers Squibb Company (NYSE:BMY) by 1.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 349,908 shares of the biopharmaceutical company’s stock after selling 5,983 shares during the period. HL Financial Services LLC’s holdings in Bristol-Myers Squibb were worth $19,497,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Welch Investments LLC grew its stake in Bristol-Myers Squibb by 3.9% in the 1st quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 79 shares during the period. Blue Chip Partners Inc. grew its stake in Bristol-Myers Squibb by 0.8% in the 1st quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 17 shares during the period. Proficio Capital Partners LLC grew its stake in Bristol-Myers Squibb by 29.6% in the 1st quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 504 shares during the period. American National Bank grew its stake in Bristol-Myers Squibb by 11.7% in the 2nd quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 225 shares during the period. Finally, Heritage Trust Co acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at $123,000. 68.90% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Theodore R. Samuels II purchased 6,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, with a total value of $335,640.00. Following the acquisition, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Joseph C. Caldarella sold 9,340 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total transaction of $560,400.00. Following the completion of the sale, the senior vice president now directly owns 46,297 shares of the company’s stock, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

A number of brokerages have weighed in on BMY. Barclays PLC lifted their price target on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, October 13th. Jefferies Group LLC lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 price target on the stock. in a report on Monday, October 16th. BMO Capital Markets set a $49.00 price target on shares of Bristol-Myers Squibb and gave the company a “sell” rating in a report on Thursday, October 12th. Leerink Swann lifted their price target on shares of Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a report on Monday. Finally, Citigroup Inc. lifted their price target on shares of Bristol-Myers Squibb to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $64.53.

Shares of Bristol-Myers Squibb Company (NYSE BMY) traded down 0.13% during trading on Friday, reaching $60.87. 1,053,693 shares of the company’s stock were exchanged. The firm has a market capitalization of $99.82 billion, a P/E ratio of 22.23 and a beta of 1.19. Bristol-Myers Squibb Company has a 52-week low of $46.01 and a 52-week high of $66.10. The company has a 50 day moving average of $63.60 and a 200 day moving average of $57.54.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.20 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. Bristol-Myers Squibb’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. Equities analysts anticipate that Bristol-Myers Squibb Company will post $2.99 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 56.73%.

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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.

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

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