First Foundation Advisors Has $2.57 Million Position in Bristol-Myers Squibb Company (BMY)
First Foundation Advisors decreased its position in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 9.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,265 shares of the biopharmaceutical company’s stock after selling 4,908 shares during the period. First Foundation Advisors’ holdings in Bristol-Myers Squibb were worth $2,570,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in BMY. Jennison Associates LLC raised its stake in Bristol-Myers Squibb by 0.8% in the first quarter. Jennison Associates LLC now owns 21,927,898 shares of the biopharmaceutical company’s stock worth $1,192,439,000 after buying an additional 178,436 shares during the last quarter. Swiss National Bank raised its stake in Bristol-Myers Squibb by 27.2% in the first quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock worth $322,020,000 after buying an additional 1,267,900 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Bristol-Myers Squibb by 23.8% in the first quarter. Canada Pension Plan Investment Board now owns 3,362,609 shares of the biopharmaceutical company’s stock worth $182,859,000 after buying an additional 646,000 shares during the last quarter. Rhumbline Advisers raised its stake in Bristol-Myers Squibb by 1.3% in the first quarter. Rhumbline Advisers now owns 2,549,646 shares of the biopharmaceutical company’s stock worth $138,650,000 after buying an additional 33,766 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Bristol-Myers Squibb by 6.5% in the first quarter. Pictet Asset Management Ltd. now owns 1,771,132 shares of the biopharmaceutical company’s stock worth $96,314,000 after buying an additional 108,571 shares during the last quarter. Institutional investors own 69.68% of the company’s stock.
Bristol-Myers Squibb Company (BMY) traded up 0.50% during midday trading on Wednesday, hitting $57.96. The stock had a trading volume of 1,384,155 shares. Bristol-Myers Squibb Company has a 1-year low of $46.01 and a 1-year high of $60.45. The company has a market capitalization of $95.05 billion, a PE ratio of 21.17 and a beta of 1.17. The stock’s 50-day moving average is $55.97 and its 200-day moving average is $55.09.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. Equities research analysts forecast that Bristol-Myers Squibb Company will post $2.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.71%. Bristol-Myers Squibb’s payout ratio is currently 56.73%.
BMY has been the topic of a number of analyst reports. Vetr upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $62.23 price objective on the stock in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. BMO Capital Markets reiterated an “underperform” rating and set a $47.00 price objective (down from $51.00) on shares of Bristol-Myers Squibb in a research note on Wednesday, July 26th. BidaskClub upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Leerink Swann decreased their price objective on Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $62.13.
In related news, Director Theodore R. Samuels II acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average price of $55.94 per share, with a total value of $335,640.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% 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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