First PREMIER Bank reduced its stake in Bristol-Myers Squibb Company (NYSE:BMY) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,777 shares of the biopharmaceutical company’s stock after selling 874 shares during the quarter. First PREMIER Bank’s holdings in Bristol-Myers Squibb were worth $322,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Triangle Securities Wealth Management lifted its position in shares of Bristol-Myers Squibb by 0.5% in the second quarter. Triangle Securities Wealth Management now owns 39,249 shares of the biopharmaceutical company’s stock valued at $2,187,000 after acquiring an additional 190 shares in the last quarter. Private Asset Management Inc. lifted its position in shares of Bristol-Myers Squibb by 3.4% in the second quarter. Private Asset Management Inc. now owns 191,728 shares of the biopharmaceutical company’s stock valued at $10,683,000 after acquiring an additional 6,235 shares in the last quarter. Indiana Trust & Investment Management CO lifted its position in shares of Bristol-Myers Squibb by 0.9% in the second quarter. Indiana Trust & Investment Management CO now owns 13,272 shares of the biopharmaceutical company’s stock valued at $740,000 after acquiring an additional 120 shares in the last quarter. Bath Savings Trust Co lifted its position in shares of Bristol-Myers Squibb by 16.9% in the second quarter. Bath Savings Trust Co now owns 17,958 shares of the biopharmaceutical company’s stock valued at $1,001,000 after acquiring an additional 2,600 shares in the last quarter. Finally, M Holdings Securities Inc. lifted its position in shares of Bristol-Myers Squibb by 6.6% in the first quarter. M Holdings Securities Inc. now owns 16,515 shares of the biopharmaceutical company’s stock valued at $898,000 after acquiring an additional 1,029 shares in the last quarter. Institutional investors and hedge funds own 68.80% of the company’s stock.
Several analysts have recently issued reports on the company. Credit Suisse Group set a $58.00 price objective on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Wednesday, August 16th. BMO Capital Markets restated an “underperform” rating and issued a $47.00 price objective (down from $51.00) on shares of Bristol-Myers Squibb in a research report on Wednesday, July 26th. Leerink Swann reduced their target price on Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. Finally, Vetr upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $64.33 target price on the stock in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $62.66.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were acquired at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the purchase, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the transaction, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
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Shares of Bristol-Myers Squibb Company (BMY) traded up 0.21% during midday trading on Friday, reaching $62.82. The company’s stock had a trading volume of 3,631,703 shares. The stock has a market capitalization of $103.02 billion, a PE ratio of 22.94 and a beta of 1.18. The stock has a 50-day moving average price of $58.32 and a 200 day moving average price of $55.91. Bristol-Myers Squibb Company has a 52 week low of $46.01 and a 52 week high of $63.47. Bristol-Myers Squibb also was the target of unusually large options trading on Thursday. Traders bought 781 put options on the company. This represents an increase of 117% compared to the typical daily volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. Equities analysts forecast that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.49%. Bristol-Myers Squibb’s payout ratio is presently 56.73%.
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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