Montecito Bank & Trust acquired a new position in shares of Bristol-Myers Squibb Company (NYSE:BMY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,130 shares of the biopharmaceutical company’s stock, valued at approximately $1,122,000.
A number of other hedge funds have also recently modified their holdings of BMY. Welch Investments LLC grew its position in Bristol-Myers Squibb by 3.9% during the 1st quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 79 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter worth $116,000. Blue Chip Partners Inc. grew its position in Bristol-Myers Squibb by 0.8% during the 1st quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 17 shares during the last quarter. Proficio Capital Partners LLC grew its position in Bristol-Myers Squibb by 29.6% during the 1st quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 504 shares during the last quarter. Finally, American National Bank grew its position in Bristol-Myers Squibb by 11.7% during the 2nd quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 225 shares during the last quarter. Institutional investors and hedge funds own 68.80% of the company’s stock.
Bristol-Myers Squibb Company (NYSE:BMY) opened at 62.48 on Friday. Bristol-Myers Squibb Company has a 52 week low of $46.01 and a 52 week high of $63.47. The stock has a 50 day moving average price of $58.56 and a 200-day moving average price of $55.95. The firm has a market capitalization of $102.46 billion, a P/E ratio of 22.82 and a beta of 1.18. Bristol-Myers Squibb also saw unusually large options trading on Thursday. Traders purchased 781 put options on the stock. This is an increase of 117% compared to the average volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. Bristol-Myers Squibb’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. Analysts anticipate that Bristol-Myers Squibb Company will post $2.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be paid a $0.39 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.50%. Bristol-Myers Squibb’s payout ratio is presently 56.73%.
In other news, Director Theodore R. Samuels II acquired 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were acquired at an average cost of $55.94 per share, with a total value of $335,640.00. Following the transaction, the director now owns 18,000 shares in the company, valued at approximately $1,006,920. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the sale, the senior vice president now directly owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.
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A number of equities research analysts recently weighed in on BMY shares. Jefferies Group LLC restated 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 Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Vetr lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 price objective on the stock. in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. Finally, Cowen and Company set a $65.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $62.66.
Bristol-Myers Squibb 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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