Douglas Lane & Associates LLC Sells 3,347 Shares of Bristol-Myers Squibb Co. (BMY)
Douglas Lane & Associates LLC reduced its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,917 shares of the biopharmaceutical company’s stock after selling 3,347 shares during the period. Douglas Lane & Associates LLC’s holdings in Bristol-Myers Squibb were worth $29,487,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Jolley Asset Management LLC raised its stake in Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 80 shares during the last quarter. Univest Corp of Pennsylvania acquired a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $202,000. Windsor Financial Group LLC acquired a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $205,000. Verus Financial Partners Inc. acquired a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $218,000. Finally, Grubman Wealth Management acquired a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $225,000. 72.91% of the stock is currently owned by institutional investors.
Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.69% during mid-day trading on Friday, reaching $55.43. 12,714,378 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $56.41 and its 200 day moving average is $66.79. Bristol-Myers Squibb Co. has a 1-year low of $53.56 and a 1-year high of $77.12. The stock has a market capitalization of $92.62 billion, a PE ratio of 32.42 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Analysts forecast that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
Several equities research analysts have commented on the stock. Vetr raised shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price target on the stock in a report on Monday, July 25th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Bristol-Myers Squibb in a report on Wednesday, June 15th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $60.00 price target on shares of Bristol-Myers Squibb in a report on Saturday, September 3rd. Zacks Investment Research lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, SunTrust Banks Inc. lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $86.00 to $68.00 in a report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $69.91.
In other news, Director Lamberto Andreotti sold 23,200 shares of Bristol-Myers Squibb stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $59.17, for a total value of $1,372,744.00. Following the sale, the director now owns 364,999 shares of the company’s stock, valued at $21,596,990.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by insiders.
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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