Strategic Advisors LLC lessened its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,568 shares of the biopharmaceutical company’s stock after selling 2,112 shares during the quarter. Strategic Advisors LLC’s holdings in Bristol-Myers Squibb were worth $887,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in Bristol-Myers Squibb by 313.9% in the first quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock worth $1,949,043,000 after acquiring an additional 30,981,844 shares in the last quarter. Norges Bank bought a new stake in Bristol-Myers Squibb in the fourth quarter worth approximately $797,038,000. Janus Henderson Group PLC grew its position in Bristol-Myers Squibb by 15.5% in the first quarter. Janus Henderson Group PLC now owns 9,196,512 shares of the biopharmaceutical company’s stock worth $438,767,000 after acquiring an additional 1,231,639 shares in the last quarter. Legal & General Group Plc grew its position in Bristol-Myers Squibb by 5.9% in the fourth quarter. Legal & General Group Plc now owns 8,568,445 shares of the biopharmaceutical company’s stock worth $445,300,000 after acquiring an additional 474,820 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Bristol-Myers Squibb by 380.2% in the first quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock worth $298,324,000 after acquiring an additional 4,950,748 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.
Shares of NYSE BMY traded up $0.26 during trading hours on Friday, hitting $45.46. 614,558 shares of the stock were exchanged, compared to its average volume of 13,343,362. The company has a quick ratio of 3.75, a current ratio of 3.88 and a debt-to-equity ratio of 1.51. The business’s 50 day moving average is $45.69. The stock has a market cap of $74.34 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 2.21 and a beta of 0.71. Bristol-Myers Squibb Co has a one year low of $42.48 and a one year high of $63.69.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Wednesday, July 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
In other Bristol-Myers Squibb news, insider Karen Murphy Santiago sold 3,065 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $47.56, for a total value of $145,771.40. Following the completion of the sale, the insider now directly owns 3,066 shares of the company’s stock, valued at approximately $145,818.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert J. Bertolini purchased 11,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, July 31st. The stock was bought at an average cost of $44.72 per share, with a total value of $491,920.00. Following the completion of the acquisition, the director now owns 11,397 shares in the company, valued at $509,673.84. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by corporate insiders.
Several research firms have commented on BMY. Argus downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price for the company. in a research report on Monday, May 20th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Tuesday, May 7th. ValuEngine downgraded shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. BMO Capital Markets boosted their target price on shares of Bristol-Myers Squibb from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bristol-Myers Squibb in a research report on Friday, May 3rd. They issued an “overweight” rating and a $62.00 target price for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.45.
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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