Meyer Handelman Co. Has $44.84 Million Stake in Bristol-Myers Squibb Company (BMY)
Meyer Handelman Co. cut its stake in Bristol-Myers Squibb Company (NYSE:BMY) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 804,723 shares of the biopharmaceutical company’s stock after selling 4,100 shares during the period. Bristol-Myers Squibb makes up 1.9% of Meyer Handelman Co.’s holdings, making the stock its 10th largest position. Meyer Handelman Co.’s holdings in Bristol-Myers Squibb were worth $44,839,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Raymond James Trust N.A. increased its position in Bristol-Myers Squibb by 2.9% in the first quarter. Raymond James Trust N.A. now owns 126,251 shares of the biopharmaceutical company’s stock worth $6,865,000 after buying an additional 3,543 shares during the last quarter. New England Research & Management Inc. increased its position in Bristol-Myers Squibb by 8.8% in the first quarter. New England Research & Management Inc. now owns 28,317 shares of the biopharmaceutical company’s stock worth $1,540,000 after buying an additional 2,300 shares during the last quarter. Northstar Group Inc. increased its position in Bristol-Myers Squibb by 35.9% in the first quarter. Northstar Group Inc. now owns 5,491 shares of the biopharmaceutical company’s stock worth $298,000 after buying an additional 1,450 shares during the last quarter. Indiana Trust & Investment Management CO increased its position in Bristol-Myers Squibb by 1.5% in the first quarter. Indiana Trust & Investment Management CO now owns 13,152 shares of the biopharmaceutical company’s stock worth $715,000 after buying an additional 200 shares during the last quarter. Finally, Hills Bank & Trust Co. increased its position in Bristol-Myers Squibb by 24.2% in the first quarter. Hills Bank & Trust Co. now owns 5,919 shares of the biopharmaceutical company’s stock worth $322,000 after buying an additional 1,155 shares during the last quarter. Institutional investors own 69.68% of the company’s stock.
Bristol-Myers Squibb Company (BMY) traded down 1.398% during mid-day trading on Wednesday, hitting $57.061. The stock had a trading volume of 3,920,694 shares. The stock has a market cap of $93.58 billion, a PE ratio of 20.840 and a beta of 1.17. Bristol-Myers Squibb Company has a 1-year low of $46.01 and a 1-year high of $60.45. The firm’s 50-day moving average price is $55.86 and its 200-day moving average price is $54.87.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. Bristol-Myers Squibb’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. On average, equities analysts expect that Bristol-Myers Squibb Company will post $2.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently 56.73%.
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A number of research firms recently issued reports on BMY. Credit Suisse Group set a $58.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Wednesday. Cowen and Company set a $65.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Monday. BidaskClub upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday. Vetr upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $64.08 price objective for the company in a report on Thursday, August 10th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $62.12.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of the acquisition, the director now directly owns 18,000 shares in the company, valued at approximately $1,006,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.
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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