Welch & Forbes LLC trimmed its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 221,563 shares of the biopharmaceutical company’s stock after selling 3,462 shares during the period. Welch & Forbes LLC’s holdings in Bristol-Myers Squibb were worth $13,754,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of BMY. CSat Investment Advisory L.P. purchased a new stake in Bristol-Myers Squibb during the 2nd quarter valued at $113,000. Landaas & Co. WI ADV purchased a new stake in Bristol-Myers Squibb during the 2nd quarter valued at $131,000. Mount Yale Investment Advisors LLC purchased a new stake in Bristol-Myers Squibb during the 1st quarter valued at $179,000. Selective Wealth Management purchased a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $184,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in Bristol-Myers Squibb by 85.8% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock valued at $199,000 after purchasing an additional 1,481 shares during the last quarter. Institutional investors and hedge funds own 72.28% of the company’s stock.
A number of equities analysts have recently issued reports on the company. SunTrust Banks restated a “buy” rating and issued a $67.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, July 31st. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Friday, October 5th. Barclays raised their price target on Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, October 12th. BMO Capital Markets restated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Sunday, July 22nd. Finally, Jefferies Financial Group set a $58.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Sunday, July 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.13.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.14. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.48 billion. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. Bristol-Myers Squibb’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. On average, equities research analysts expect that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, October 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.60 annualized dividend and a yield of 2.72%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 53.16%.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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