PGGM Investments Raises Position in Bristol-Myers Squibb Co. (BMY)
PGGM Investments increased its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,321,858 shares of the biopharmaceutical company’s stock after buying an additional 17,200 shares during the period. PGGM Investments owned about 0.08% of Bristol-Myers Squibb worth $97,223,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in BMY. Jolley Asset Management LLC increased its stake in shares of 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 worth $154,000 after buying an additional 80 shares in the last quarter. Univest Corp of Pennsylvania acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth approximately $202,000. Smith & Howard Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth approximately $204,000. Windsor Financial Group LLC acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth approximately $205,000. Finally, Balentine LLC boosted its position in shares of Bristol-Myers Squibb by 45.2% in the first quarter. Balentine LLC now owns 3,356 shares of the biopharmaceutical company’s stock worth $214,000 after buying an additional 1,045 shares during the last quarter. Institutional investors own 72.88% of the company’s stock.
Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.93% on Wednesday, hitting $50.01. 18,133,998 shares of the company traded hands. The stock’s 50-day moving average is $55.86 and its 200 day moving average is $66.63. The firm has a market capitalization of $83.56 billion, a P/E ratio of 29.25 and a beta of 0.74. Bristol-Myers Squibb Co. has a 12 month low of $49.50 and a 12 month high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The company earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. Bristol-Myers Squibb’s revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Equities analysts forecast that Bristol-Myers Squibb Co. will post $2.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
BMY has been the subject of a number of recent research reports. Jefferies Group lifted their price objective on shares of Bristol-Myers Squibb from $76.00 to $78.00 and gave the stock a “hold” rating in a research note on Tuesday, June 14th. Deutsche Bank AG reissued a “hold” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, June 15th. Vetr raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.79 price objective for the company in a research note on Monday, June 27th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. Finally, Zacks Investment Research cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $69.31.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.
Bristol-Myers Squibb Company Profile
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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