Spirit of America Management Corp NY continued to hold its stake in Bristol-Myers Squibb Company (NYSE:BMY) during the second quarter, Holdings Channel reports. The fund owned 14,000 shares of the biopharmaceutical company’s stock at the end of the second quarter. Spirit of America Management Corp NY’s holdings in Bristol-Myers Squibb were worth $780,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Union Bankshares Corp boosted its stake in Bristol-Myers Squibb by 12.2% in the first quarter. Union Bankshares Corp now owns 4,405 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 480 shares during the last quarter. Norges Bank bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $770,318,000. Doyle Wealth Management bought a new stake in Bristol-Myers Squibb during the first quarter valued at about $14,571,000. Philadelphia Trust Co. boosted its stake in Bristol-Myers Squibb by 7.7% in the fourth quarter. Philadelphia Trust Co. now owns 20,924 shares of the biopharmaceutical company’s stock valued at $1,223,000 after buying an additional 1,500 shares during the last quarter. Finally, Numeric Investors LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $1,671,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.
Shares of Bristol-Myers Squibb Company (NYSE:BMY) opened at 55.27 on Friday. The stock’s 50 day moving average is $55.41 and its 200-day moving average is $54.55. The stock has a market capitalization of $91.05 billion, a price-to-earnings ratio of 20.19 and a beta of 1.17. Bristol-Myers Squibb Company has a 52 week low of $46.01 and a 52 week high of $76.30. Bristol-Myers Squibb also saw unusually large options trading on Thursday. Traders bought 29,818 call options on the company. This represents an increase of 149% compared to the average volume of 11,985 call options.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a return on equity of 31.95% and a net margin of 22.66%. Bristol-Myers Squibb’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. On average, analysts anticipate that Bristol-Myers Squibb Company will post $2.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a yield of 2.82%. Bristol-Myers Squibb’s payout ratio is 56.73%.
Several equities research analysts have recently issued reports on BMY shares. Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $58.88 price objective on the stock in a research report on Monday, June 5th. Jefferies Group LLC reiterated a “buy” rating and set a $64.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, June 5th. BidaskClub upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Robert W. Baird initiated coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 25th. They set an “outperform” rating on the stock. Finally, Deutsche Bank AG set a $55.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $63.32.
Bristol-Myers Squibb Company 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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