Tiemann Investment Advisors LLC cut its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 12.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 10,128 shares of the biopharmaceutical company’s stock after selling 1,425 shares during the period. Tiemann Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $551,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in BMY. Westwood Holdings Group Inc. boosted its stake in Bristol-Myers Squibb by 6.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 107,362 shares of the biopharmaceutical company’s stock valued at $6,274,000 after buying an additional 6,438 shares during the period. Numeric Investors LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $1,671,000. Jarislowsky Fraser Ltd boosted its stake in Bristol-Myers Squibb by 41.4% in the fourth quarter. Jarislowsky Fraser Ltd now owns 758,950 shares of the biopharmaceutical company’s stock valued at $44,353,000 after buying an additional 222,102 shares during the period. Willis Investment Counsel boosted its stake in Bristol-Myers Squibb by 15.0% in the fourth quarter. Willis Investment Counsel now owns 152,130 shares of the biopharmaceutical company’s stock valued at $8,890,000 after buying an additional 19,801 shares during the period. Finally, Appaloosa LP purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $21,915,000. Institutional investors own 69.79% of the company’s stock.
Shares of Bristol-Myers Squibb Co (BMY) opened at 56.30 on Tuesday. The company has a 50-day moving average of $55.55 and a 200-day moving average of $54.50. The stock has a market capitalization of $92.33 billion, a P/E ratio of 20.56 and a beta of 1.17. Bristol-Myers Squibb Co has a 12-month low of $46.01 and a 12-month high of $64.77.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a net margin of 17.92% and a return on equity of 25.24%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities analysts expect that Bristol-Myers Squibb Co will post $2.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 56.73%.
BMY has been the subject of several recent analyst reports. BMO Capital Markets reiterated a “market perform” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Sunday, April 23rd. Vetr cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $59.88 price objective for the company. in a research note on Monday, April 24th. Robert W. Baird initiated coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 25th. They issued an “outperform” rating for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. Finally, BidaskClub upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $63.33.
In related news, Director Theodore R. Samuels II purchased 6,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, August 2nd. The stock was acquired at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $1,006,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by corporate insiders.
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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