Gabelli Funds LLC Cuts Holdings in Bristol-Myers Squibb Co (BMY)

Gabelli Funds LLC trimmed its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 827,387 shares of the biopharmaceutical company’s stock after selling 23,500 shares during the quarter. Gabelli Funds LLC owned approximately 0.05% of Bristol-Myers Squibb worth $52,738,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Tradewinds Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 34.6% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 500 shares in the last quarter. Atlantic Trust LLC bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth approximately $111,000. American National Bank boosted its position in shares of Bristol-Myers Squibb by 11.7% in the 2nd quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 225 shares in the last quarter. Blue Chip Partners Inc. boosted its position in shares of Bristol-Myers Squibb by 0.7% in the 2nd quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 15 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. boosted its position in shares of Bristol-Myers Squibb by 166.3% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,170 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 1,355 shares in the last quarter. 69.66% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Thomas J. Jr. Lynch sold 5,300 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total transaction of $335,172.00. Following the completion of the sale, the executive vice president now owns 9,251 shares of the company’s stock, valued at approximately $585,033.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sandra Leung sold 156,582 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the sale, the executive vice president now directly owns 584,373 shares of the company’s stock, valued at approximately $37,031,717.01. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Shares of Bristol-Myers Squibb Co (NYSE BMY) opened at $61.89 on Friday. The firm has a market cap of $101,300.00, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 2.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.46 and a current ratio of 1.59. Bristol-Myers Squibb Co has a 12 month low of $46.01 and a 12 month high of $66.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. Bristol-Myers Squibb’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. equities research analysts predict that Bristol-Myers Squibb Co will post 2.99 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, January 4th. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 2.59%. Bristol-Myers Squibb’s payout ratio is currently 61.42%.

A number of analysts have recently commented on BMY shares. Jefferies Group reissued a “buy” rating and issued a $72.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, September 27th. Vetr raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.50 price target on the stock in a research report on Wednesday, September 27th. UBS Group reissued a “buy” rating and issued a $72.00 price target (up from $62.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. Citigroup boosted their price objective on shares of Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Finally, SunTrust Banks upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $64.42.

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Bristol-Myers Squibb Profile

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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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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