Whittier Trust Co. lifted its position in Bristol-Myers Squibb Co (NYSE:BMY) by 8.8% during the third quarter, Holdings Channel reports. The institutional investor owned 108,799 shares of the biopharmaceutical company’s stock after buying an additional 8,839 shares during the quarter. Whittier Trust Co.’s holdings in Bristol-Myers Squibb were worth $5,516,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of BMY. Amundi Pioneer Asset Management Inc. grew its position in shares of Bristol-Myers Squibb by 12.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,542,397 shares of the biopharmaceutical company’s stock worth $121,298,000 after buying an additional 280,458 shares during the last quarter. Bath Savings Trust Co grew its position in Bristol-Myers Squibb by 3.4% during the 2nd quarter. Bath Savings Trust Co now owns 17,108 shares of the biopharmaceutical company’s stock worth $776,000 after purchasing an additional 568 shares during the last quarter. Boltwood Capital Management grew its position in Bristol-Myers Squibb by 1.9% during the 2nd quarter. Boltwood Capital Management now owns 21,626 shares of the biopharmaceutical company’s stock worth $981,000 after purchasing an additional 400 shares during the last quarter. Thomasville National Bank grew its position in Bristol-Myers Squibb by 1.6% during the 2nd quarter. Thomasville National Bank now owns 18,605 shares of the biopharmaceutical company’s stock worth $843,000 after purchasing an additional 293 shares during the last quarter. Finally, Private Asset Management Inc. grew its position in Bristol-Myers Squibb by 5.5% during the 2nd quarter. Private Asset Management Inc. now owns 129,289 shares of the biopharmaceutical company’s stock worth $5,863,000 after purchasing an additional 6,775 shares during the last quarter. 80.25% of the stock is currently owned by hedge funds and other institutional investors.
BMY has been the topic of several research analyst reports. ValuEngine downgraded shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. set a $62.00 target price on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Friday, September 13th. TheStreet raised shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price on the stock in a research report on Wednesday, August 14th. Finally, Bank of America initiated coverage on shares of Bristol-Myers Squibb in a research report on Wednesday, October 16th. They set a “buy” rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $56.53.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.10 billion. During the same period in the previous year, the business posted $1.01 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts anticipate that Bristol-Myers Squibb Co will post 4.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
In other news, Director Robert J. Bertolini bought 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the purchase, the director now directly owns 11,397 shares in the company, valued at approximately $509,673.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb Company 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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