KG&L Capital Management LLC lessened its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 22.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,298 shares of the biopharmaceutical company’s stock after selling 3,806 shares during the period. KG&L Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $674,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in BMY. Private Ocean LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at about $28,000. Lenox Wealth Advisors LLC increased its holdings in Bristol-Myers Squibb by 555.7% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 539 shares during the period. Endurance Wealth Management Inc. increased its holdings in Bristol-Myers Squibb by 119.6% during the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 500 shares during the period. HMS Capital Management LLC purchased a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $45,000. Finally, Global Trust Asset Management LLC increased its holdings in Bristol-Myers Squibb by 251.1% during the 2nd quarter. Global Trust Asset Management LLC now owns 3,511 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 2,511 shares during the period. Institutional investors own 80.17% of the company’s stock.
Bristol-Myers Squibb stock traded up $0.83 during trading hours on Friday, hitting $51.61. 11,252,303 shares of the stock traded hands, compared to its average volume of 9,791,409. The firm’s 50-day moving average price is $49.24 and its two-hundred day moving average price is $47.03. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The company has a market cap of $82.38 billion, a PE ratio of 12.97, a PEG ratio of 2.48 and a beta of 0.72. Bristol-Myers Squibb Co has a one year low of $42.48 and a one year high of $60.77.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.12. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. On average, sell-side analysts expect that Bristol-Myers Squibb Co will post 4.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.64 annualized dividend and a yield of 3.18%. Bristol-Myers Squibb’s payout ratio is 41.21%.
In related news, Director Robert J. Bertolini purchased 11,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average cost of $44.72 per share, with a total value of $491,920.00. Following the transaction, the director now directly owns 11,397 shares in the company, valued at approximately $509,673.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.
A number of research analysts recently issued reports on BMY shares. ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Monday. UBS Group reduced their price target on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, June 13th. JPMorgan Chase & Co. set a $62.00 price objective on Bristol-Myers Squibb and gave the company a “buy” rating in a research report on Friday, September 13th. Atlantic Securities raised Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a research report on Wednesday, August 14th. Finally, Bank of America lifted their price objective on Bristol-Myers Squibb from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Bristol-Myers Squibb has an average rating of “Buy” and an average price target of $55.81.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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