Parsons Capital Management Inc. RI Has $3.28 Million Stake in Bristol-Myers Squibb Company (BMY)
Parsons Capital Management Inc. RI decreased its position in Bristol-Myers Squibb Company (NYSE:BMY) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,282 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. Parsons Capital Management Inc. RI’s holdings in Bristol-Myers Squibb were worth $3,278,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in BMY. American National Bank increased its position in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 508 shares during the last quarter. Welch Investments LLC increased its position in shares of Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 79 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter worth approximately $116,000. Blue Chip Partners Inc. increased its position in shares of Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 17 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Bristol-Myers Squibb by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 504 shares during the last quarter. Hedge funds and other institutional investors own 69.68% of the company’s stock.
Shares of Bristol-Myers Squibb Company (NYSE BMY) traded down 0.62% during midday trading on Friday, hitting $56.42. The stock had a trading volume of 4,809,885 shares. The stock has a 50-day moving average price of $55.95 and a 200-day moving average price of $54.96. The stock has a market cap of $92.52 billion, a P/E ratio of 20.61 and a beta of 1.17. Bristol-Myers Squibb Company has a 12-month low of $46.01 and a 12-month high of $60.45. Bristol-Myers Squibb also was the recipient of some unusual options trading on Thursday. Investors purchased 781 put options on the stock. This represents an increase of 117% compared to the typical volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly 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. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the firm earned $0.69 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were issued a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.56 annualized dividend and a yield of 2.76%. Bristol-Myers Squibb’s dividend payout ratio is currently 56.73%.
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A number of equities analysts recently commented on the company. BidaskClub upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Deutsche Bank AG set a $55.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 17th. BMO Capital Markets downgraded Bristol-Myers Squibb from a “market perform” rating to an “underperform” rating and set a $47.00 price objective on the stock. in a research report on Wednesday, May 3rd. Credit Suisse Group set a $58.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Wednesday. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.12.
In related news, Director Theodore R. Samuels II purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now owns 18,000 shares in the company, valued at $1,006,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
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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