Synovus Financial Corp lowered its position in Bristol-Myers Squibb Company (NYSE:BMY) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,260 shares of the biopharmaceutical company’s stock after selling 3,285 shares during the period. Synovus Financial Corp’s holdings in Bristol-Myers Squibb were worth $9,283,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Blue Chip Partners Inc. boosted its position in Bristol-Myers Squibb by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 15 shares during the last quarter. Keel Point LLC boosted its position in Bristol-Myers Squibb by 0.3% in the 1st quarter. Keel Point LLC now owns 6,286 shares of the biopharmaceutical company’s stock worth $342,000 after purchasing an additional 18 shares in the last quarter. Staley Capital Advisers Inc. boosted its position in Bristol-Myers Squibb by 0.3% in the 1st quarter. Staley Capital Advisers Inc. now owns 6,962 shares of the biopharmaceutical company’s stock worth $379,000 after purchasing an additional 24 shares in the last quarter. Shayne & CO. LLC boosted its position in Bristol-Myers Squibb by 0.6% in the 2nd quarter. Shayne & CO. LLC now owns 4,041 shares of the biopharmaceutical company’s stock worth $225,000 after purchasing an additional 24 shares in the last quarter. Finally, Chilton Investment Co. LLC boosted its position in Bristol-Myers Squibb by 0.5% in the 2nd quarter. Chilton Investment Co. LLC now owns 5,283 shares of the biopharmaceutical company’s stock worth $294,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 69.82% of the company’s stock.
In related news, EVP Sandra Leung sold 156,582 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the sale, the executive vice president now directly owns 584,373 shares of the company’s stock, valued at approximately $37,031,717.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by company insiders.
Several equities research analysts have commented on the company. Barclays upped their price objective on Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, October 13th. Jefferies Group lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 price objective on the stock. in a research report on Monday, October 16th. BMO Capital Markets set a $49.00 target price on Bristol-Myers Squibb and gave the company a “sell” rating in a research report on Thursday, October 12th. Leerink Swann increased their target price on Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. Finally, Citigroup increased their target price on Bristol-Myers Squibb to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $64.93.
Shares of Bristol-Myers Squibb Company (BMY) traded up $0.87 on Thursday, hitting $61.84. The company’s stock had a trading volume of 5,140,490 shares, compared to its average volume of 8,423,110. Bristol-Myers Squibb Company has a twelve month low of $46.01 and a twelve month high of $66.10. The firm has a market cap of $101,508.14, a P/E ratio of 20.95, a PEG ratio of 2.35 and a beta of 1.18. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.20 billion. Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. equities analysts expect that Bristol-Myers Squibb Company will post 2.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 61.42%.
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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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