New England Asset Management Inc. raised its position in Bristol-Myers Squibb Co (NYSE:BMY) by 17.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 62,700 shares of the biopharmaceutical company’s stock after purchasing an additional 9,455 shares during the period. New England Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,843,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Bristol-Myers Squibb by 1.2% during the second quarter. Vanguard Group Inc. now owns 134,058,636 shares of the biopharmaceutical company’s stock worth $6,079,559,000 after purchasing an additional 1,580,750 shares during the last quarter. BlackRock Inc. grew its holdings in Bristol-Myers Squibb by 6.7% during the second quarter. BlackRock Inc. now owns 114,798,394 shares of the biopharmaceutical company’s stock worth $5,206,108,000 after acquiring an additional 7,178,698 shares during the period. FMR LLC grew its holdings in Bristol-Myers Squibb by 313.9% during the first quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock worth $1,949,043,000 after acquiring an additional 30,981,844 shares during the period. Invesco Ltd. grew its holdings in Bristol-Myers Squibb by 40.4% during the second quarter. Invesco Ltd. now owns 24,012,686 shares of the biopharmaceutical company’s stock worth $1,088,974,000 after acquiring an additional 6,915,526 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Bristol-Myers Squibb by 67.6% during the second quarter. Renaissance Technologies LLC now owns 20,698,607 shares of the biopharmaceutical company’s stock worth $938,682,000 after acquiring an additional 8,347,432 shares during the period. Institutional investors own 80.16% of the company’s stock.
Bristol-Myers Squibb stock traded up $0.50 during trading hours on Friday, hitting $50.57. The stock had a trading volume of 12,880,464 shares, compared to its average volume of 9,166,953. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. The stock has a market capitalization of $81.56 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 2.45 and a beta of 0.70. Bristol-Myers Squibb Co has a 1-year low of $42.48 and a 1-year high of $63.69. The stock’s fifty day moving average is $47.67 and its two-hundred day moving average is $47.08.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.21%.
A number of brokerages recently weighed in on BMY. ValuEngine raised Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a report on Monday, August 26th. JPMorgan Chase & Co. set a $62.00 price objective on Bristol-Myers Squibb and gave the stock a “buy” rating in a report on Friday, September 13th. TheStreet raised Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a report on Wednesday. Goldman Sachs Group began coverage on Bristol-Myers Squibb in a report on Tuesday, May 28th. They set a “buy” rating and a $54.00 price objective on the stock. Finally, Bank of America upped their price objective on Bristol-Myers Squibb from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.74.
In other news, Director Robert J. Bertolini bought 11,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were bought at an average price of $44.72 per share, with a total value of $491,920.00. Following the completion of the acquisition, the director now owns 11,397 shares of the company’s stock, valued at $509,673.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by corporate insiders.
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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