London Co. of Virginia trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 106,499 shares of the biopharmaceutical company’s stock after selling 5,897 shares during the quarter. London Co. of Virginia’s holdings in Bristol-Myers Squibb were worth $7,381,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the company. Cigna Investments Inc. New boosted its position in Bristol-Myers Squibb by 0.5% during the fourth quarter. Cigna Investments Inc. New now owns 26,379 shares of the biopharmaceutical company’s stock worth $1,898,000 after purchasing an additional 141 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in Bristol-Myers Squibb by 2.5% during the first quarter. Catalyst Financial Partners LLC now owns 6,001 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 145 shares in the last quarter. Keystone Wealth Services LLC boosted its position in Bristol-Myers Squibb by 2.0% during the first quarter. Keystone Wealth Services LLC now owns 7,468 shares of the biopharmaceutical company’s stock worth $518,000 after purchasing an additional 148 shares in the last quarter. Dillon & Associates Inc. boosted its position in Bristol-Myers Squibb by 3.9% during the first quarter. Dillon & Associates Inc. now owns 3,955 shares of the biopharmaceutical company’s stock worth $245,000 after purchasing an additional 150 shares in the last quarter. Finally, Abbrea Capital LLC boosted its position in Bristol-Myers Squibb by 1.5% during the first quarter. Abbrea Capital LLC now owns 10,025 shares of the biopharmaceutical company’s stock worth $695,000 after purchasing an additional 150 shares in the last quarter. 74.98% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on BMY shares. HSBC started coverage on Bristol-Myers Squibb in a research report on Friday, July 14th. They issued a “reduce” rating and a $56.00 price objective on the stock. Barclays reduced their price objective on Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, July 28th. SVB Securities started coverage on Bristol-Myers Squibb in a research report on Monday, July 10th. They issued a “market perform” rating and a $66.00 price objective on the stock. Daiwa Capital Markets started coverage on Bristol-Myers Squibb in a research report on Wednesday, June 28th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Credit Suisse Group reduced their price objective on Bristol-Myers Squibb from $72.00 to $66.00 in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.14.
Insiders Place Their Bets
In other news, EVP Ann Powell sold 17,986 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now owns 27,868 shares in the company, valued at $1,706,915. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Ann Powell sold 17,986 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now owns 27,868 shares in the company, valued at $1,706,915. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert M. Plenge sold 732 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total value of $44,754.48. Following the completion of the sale, the executive vice president now owns 6,584 shares of the company’s stock, valued at approximately $402,545.76. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.
Bristol-Myers Squibb Stock Performance
Shares of NYSE:BMY opened at $60.82 on Monday. The firm has a market capitalization of $127.06 billion, a PE ratio of 16.18, a P/E/G ratio of 1.58 and a beta of 0.42. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.39 and a quick ratio of 1.28. The business has a 50-day moving average of $62.03 and a two-hundred day moving average of $65.47. Bristol-Myers Squibb has a 12 month low of $59.45 and a 12 month high of $81.43.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.24). The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $11.81 billion. Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.93 earnings per share. As a group, research analysts forecast that Bristol-Myers Squibb will post 7.49 earnings per share for the current year.
Bristol-Myers Squibb Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, July 6th. This represents a $2.28 annualized dividend and a yield of 3.75%. Bristol-Myers Squibb’s dividend payout ratio is presently 60.64%.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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