Palisades Hudson Asset Management L.P. Takes Position in Bristol-Myers Squibb Co (NYSE:BMY)

Palisades Hudson Asset Management L.P. bought a new stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,364 shares of the biopharmaceutical company’s stock, valued at approximately $221,000.

Other large investors have also bought and sold shares of the company. First Personal Financial Services lifted its holdings in Bristol-Myers Squibb by 7.7% in the 3rd quarter. First Personal Financial Services now owns 2,831 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 202 shares in the last quarter. Thomasville National Bank lifted its holdings in Bristol-Myers Squibb by 1.1% in the 3rd quarter. Thomasville National Bank now owns 18,815 shares of the biopharmaceutical company’s stock worth $954,000 after buying an additional 210 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in Bristol-Myers Squibb by 2.2% in the 2nd quarter. Rehmann Capital Advisory Group now owns 10,209 shares of the biopharmaceutical company’s stock worth $463,000 after buying an additional 224 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Bristol-Myers Squibb by 4.4% in the 2nd quarter. Sunbelt Securities Inc. now owns 5,830 shares of the biopharmaceutical company’s stock worth $264,000 after buying an additional 246 shares in the last quarter. Finally, Argyle Capital Management Inc. lifted its holdings in Bristol-Myers Squibb by 0.3% in the 2nd quarter. Argyle Capital Management Inc. now owns 80,608 shares of the biopharmaceutical company’s stock worth $3,656,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 80.25% of the company’s stock.

Shares of NYSE:BMY traded up $0.40 during trading on Friday, reaching $52.82. 5,966,796 shares of the company’s stock traded hands, compared to its average volume of 9,915,286. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. Bristol-Myers Squibb Co has a 12 month low of $42.48 and a 12 month high of $57.53. The company has a 50 day moving average of $49.86 and a 200-day moving average of $47.17. The stock has a market capitalization of $84.78 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 2.33 and a beta of 0.72.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts predict that Bristol-Myers Squibb Co will post 4.29 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.

In other Bristol-Myers Squibb news, Director Robert J. Bertolini acquired 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average price of $44.72 per share, with a total value of $491,920.00. Following 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 SEC, which is available through this link. 0.13% of the stock is owned by corporate insiders.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. set a $62.00 price objective on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a report on Friday, September 13th. ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. Bank of America initiated coverage on shares of Bristol-Myers Squibb in a research report on Wednesday. They issued a “buy” rating and a $60.00 target price for the company. TheStreet raised shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. Finally, Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price for the company in a research report on Wednesday, August 14th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $56.53.

About Bristol-Myers Squibb

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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