American National Bank lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,885 shares of the biopharmaceutical company’s stock after selling 410 shares during the period. American National Bank’s holdings in Bristol-Myers Squibb were worth $308,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in BMY. Retirement Group LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at $27,000. Orion Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at $28,000. Perennial Advisors LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at $29,000. Founders Capital Management purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at $31,000. Finally, Alpha DNA Investment Management LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at $33,000. 72.41% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on BMY shares. The Goldman Sachs Group raised shares of Bristol-Myers Squibb from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, December 15th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, April 6th. Finally, TheStreet cut shares of Bristol-Myers Squibb from a “b” rating to a “c” rating in a research report on Monday, March 8th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb presently has a consensus rating of “Buy” and an average price target of $74.07.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Wednesday, February 3rd. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.04. Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. The company had revenue of $11.07 billion during the quarter, compared to analysts’ expectations of $10.74 billion. During the same period last year, the company posted $1.22 EPS. Bristol-Myers Squibb’s revenue was up 39.3% on a year-over-year basis. Research analysts expect that Bristol-Myers Squibb will post 6.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Thursday, April 1st will be given a dividend of $0.49 per share. The ex-dividend date is Wednesday, March 31st. This represents a $1.96 dividend on an annualized basis and a yield of 3.13%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 41.79%.
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $62.20, for a total transaction of $1,555,000.00. Following the completion of the sale, the chief executive officer now directly owns 528,980 shares in the company, valued at approximately $32,902,556. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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