Shell Asset Management Co. increased its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,102 shares of the biopharmaceutical company’s stock after buying an additional 9,770 shares during the period. Shell Asset Management Co.’s holdings in Bristol-Myers Squibb were worth $10,708,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Royal Fund Management LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth about $4,578,000. HCR Wealth Advisors acquired a new position in Bristol-Myers Squibb during the 1st quarter worth about $1,370,000. Northwestern Mutual Wealth Management Co. lifted its position in Bristol-Myers Squibb by 1.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 192,961 shares of the biopharmaceutical company’s stock worth $10,756,000 after buying an additional 3,018 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Bristol-Myers Squibb by 200.4% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 273,523 shares of the biopharmaceutical company’s stock worth $15,246,000 after buying an additional 182,463 shares in the last quarter. Finally, Chase Investment Counsel Corp lifted its position in Bristol-Myers Squibb by 63.4% during the 1st quarter. Chase Investment Counsel Corp now owns 87,741 shares of the biopharmaceutical company’s stock worth $4,890,000 after buying an additional 34,036 shares in the last quarter. Institutional investors and hedge funds own 76.51% of the company’s stock.
Shares of BMY stock traded up $0.09 on Friday, reaching $61.24. The company had a trading volume of 3,352,380 shares, compared to its average volume of 15,874,773. The company has a current ratio of 1.66, a quick ratio of 1.51 and a debt-to-equity ratio of 0.86. The stock has a market cap of $138.34 billion, a PE ratio of 75.40, a PEG ratio of 1.21 and a beta of 0.74. The company has a 50-day moving average of $60.37 and a 200-day moving average of $60.69. Bristol-Myers Squibb Co has a 12 month low of $42.48 and a 12 month high of $68.34.
The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 3rd were paid a $0.45 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.94%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 38.38%.
In related news, EVP Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total value of $1,567,000.00. Following the completion of the transaction, the executive vice president now directly owns 26,777 shares in the company, valued at approximately $1,678,382.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John E. Elicker sold 15,805 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $61.01, for a total value of $964,263.05. Following the completion of the transaction, the executive vice president now owns 58,666 shares of the company’s stock, valued at $3,579,212.66. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Several brokerages recently issued reports on BMY. Morgan Stanley upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and set a $64.00 price target on the stock in a research report on Thursday, April 2nd. William Blair reissued a “buy” rating on shares of Bristol-Myers Squibb in a report on Friday, May 15th. Bank of America reissued a “buy” rating and set a $80.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, May 15th. ValuEngine cut Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Wednesday, April 29th. Finally, TheStreet cut Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $65.38.
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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