Griffin Asset Management Inc. boosted its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 176,923 shares of the biopharmaceutical company’s stock after purchasing an additional 6,354 shares during the quarter. Bristol-Myers Squibb makes up 2.0% of Griffin Asset Management Inc.’s holdings, making the stock its 8th largest position. Griffin Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $11,277,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of BMY. Tradewinds Capital Management LLC increased its holdings in shares of Bristol-Myers Squibb by 34.6% in the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 500 shares during the last quarter. Atlantic Trust LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at approximately $111,000. Massey Quick Simon & CO. LLC increased its holdings in shares of Bristol-Myers Squibb by 523.5% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,777 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 1,492 shares during the last quarter. Blue Chip Partners Inc. grew its position in Bristol-Myers Squibb by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock worth $120,000 after acquiring an additional 15 shares during the period. Finally, Horan Capital Advisors LLC. purchased a new position in Bristol-Myers Squibb in the third quarter worth approximately $122,000. Institutional investors own 69.56% of the company’s stock.
Bristol-Myers Squibb Co (BMY) traded up $1.77 on Wednesday, hitting $65.64. The stock had a trading volume of 6,901,638 shares, compared to its average volume of 8,646,256. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46. Bristol-Myers Squibb Co has a twelve month low of $51.56 and a twelve month high of $66.10. The firm has a market capitalization of $106,530.00, a PE ratio of 111.16, a P/E/G ratio of 1.96 and a beta of 1.08.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Bristol-Myers Squibb had a return on equity of 33.68% and a net margin of 4.85%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. equities research analysts forecast that Bristol-Myers Squibb Co will post 3.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, January 4th. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s payout ratio is 271.19%.
In other news, EVP Sandra Leung sold 156,582 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the sale, the executive vice president now owns 584,373 shares of the company’s stock, valued at approximately $37,031,717.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total value of $335,172.00. Following the sale, the executive vice president now directly owns 9,251 shares in the company, valued at approximately $585,033.24. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
Several research analysts recently weighed in on BMY shares. Zacks Investment Research lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Citigroup increased their price objective on Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Vetr lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 price target for the company. in a research report on Tuesday, January 16th. BMO Capital Markets set a $49.00 price target on Bristol-Myers Squibb and gave the stock a “sell” rating in a research report on Monday, December 11th. Finally, Credit Suisse Group set a $62.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, January 22nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $65.58.
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Bristol-Myers Squibb Company Profile
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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