British Airways Pensions Investment Management Ltd cut its position in Bristol-Myers Squibb Company (NYSE:BMY) by 54.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,514 shares of the biopharmaceutical company’s stock after selling 313,031 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Bristol-Myers Squibb were worth $14,214,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of BMY. American National Bank increased its stake in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares in the last quarter. Welch Investments LLC increased its stake in shares of Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter valued at about $116,000. State of Alaska Department of Revenue increased its stake in shares of Bristol-Myers Squibb by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,229 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 60 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. increased its stake in shares of Bristol-Myers Squibb by 61.8% in the first quarter. Prentiss Smith & Co. Inc. now owns 2,333 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 891 shares in the last quarter. 69.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bristol-Myers Squibb Company (NYSE BMY) opened at 55.65 on Friday. The company has a market capitalization of $91.68 billion, a price-to-earnings ratio of 19.33 and a beta of 1.17. The firm’s 50-day moving average is $55.02 and its 200 day moving average is $54.70. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $76.80. Bristol-Myers Squibb also saw unusually large options trading activity on Thursday. Stock traders purchased 781 put options on the stock. This is an increase of 117% compared to the average daily volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. Bristol-Myers Squibb had a net margin of 24.22% and a return on equity of 31.86%. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the firm posted $0.74 EPS. The company’s revenue was up 12.3% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb Company will post $2.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, July 7th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 54.17%.
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Several research firms recently weighed in on BMY. BMO Capital Markets cut shares of Bristol-Myers Squibb from a “market perform” rating to an “underperform” rating and set a $47.00 target price for the company. in a research note on Wednesday, May 3rd. Jefferies Group LLC restated a “buy” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Wednesday, July 12th. Cowen and Company set a $65.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Monday, July 10th. BidaskClub lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Bristol-Myers Squibb in a report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $63.26.
About Bristol-Myers Squibb
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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