Bank of New York Mellon Corp lowered its position in Bristol-Myers Squibb Company (NYSE:BMY) by 1.2% during the first quarter, Holdings Channel reports. The firm owned 18,431,108 shares of the biopharmaceutical company’s stock after selling 223,524 shares during the period. Bank of New York Mellon Corp’s holdings in Bristol-Myers Squibb were worth $1,002,282,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. American National Bank boosted its position in Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 508 shares during the period. Welch Investments LLC boosted its position in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 79 shares during the period. Crestwood Advisors Group LLC bought a new position in Bristol-Myers Squibb during the first quarter worth about $116,000. State of Alaska Department of Revenue boosted its position in 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 worth $121,000 after buying an additional 60 shares during the period. Finally, Prentiss Smith & Co. Inc. boosted its position in 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 worth $127,000 after buying an additional 891 shares during the period. 69.72% of the stock is currently owned by institutional investors.
Shares of Bristol-Myers Squibb Company (NYSE:BMY) opened at 55.65 on Monday. The stock has a market cap of $91.68 billion, a price-to-earnings ratio of 19.33 and a beta of 1.16. Bristol-Myers Squibb Company has a 52 week low of $46.01 and a 52 week high of $76.80. The stock’s 50 day moving average is $55.02 and its 200 day moving average is $54.70.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 27th. The biopharmaceutical company reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $4.75 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast 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. Shareholders of record on Friday, July 7th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a yield of 2.80%. Bristol-Myers Squibb’s dividend payout ratio is currently 54.17%.
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A number of equities analysts have recently issued reports on the stock. Cowen and Company set a $65.00 price objective on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 10th. William Blair reissued an “outperform” rating on shares of Bristol-Myers Squibb in a research report on Monday, June 26th. BidaskClub raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. Finally, Vetr raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $62.23 price objective on the stock in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target 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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