Ipswich Investment Management Co. Inc. lowered its position in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,617 shares of the biopharmaceutical company’s stock after selling 600 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Bristol-Myers Squibb were worth $1,595,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Blue Chip Partners Inc. raised its stake 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 period. Keel Point LLC raised its stake in shares of Bristol-Myers Squibb by 0.3% in the first quarter. Keel Point LLC now owns 6,286 shares of the biopharmaceutical company’s stock worth $342,000 after buying an additional 18 shares during the period. Staley Capital Advisers Inc. raised its stake in shares of Bristol-Myers Squibb by 0.3% in the first quarter. Staley Capital Advisers Inc. now owns 6,962 shares of the biopharmaceutical company’s stock worth $379,000 after buying an additional 24 shares during the period. Shayne & CO. LLC raised its stake in shares of Bristol-Myers Squibb by 0.6% in the second quarter. Shayne & CO. LLC now owns 4,041 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 24 shares during the period. Finally, Founders Capital Management LLC raised its stake in shares of Bristol-Myers Squibb by 0.7% in the first quarter. Founders Capital Management LLC now owns 4,097 shares of the biopharmaceutical company’s stock worth $223,000 after buying an additional 29 shares during the period. 69.68% of the stock is owned by institutional investors and hedge funds.

Shares of Bristol-Myers Squibb Company (NYSE:BMY) traded up 0.74% on Friday, reaching $58.60. The company had a trading volume of 1,466,070 shares. The firm has a market capitalization of $96.10 billion, a PE ratio of 21.40 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. The firm’s 50 day moving average is $56.12 and its 200 day moving average is $55.18.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. On average, equities research analysts expect that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.68%. The ex-dividend date was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently 56.73%.

COPYRIGHT VIOLATION WARNING: “Bristol-Myers Squibb Company (BMY) Shares Sold by Ipswich Investment Management Co. Inc.” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/08/25/bristol-myers-squibb-company-bmy-shares-sold-by-ipswich-investment-management-co-inc.html.

A number of equities research analysts have weighed in on the company. Credit Suisse Group set a $58.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Wednesday, August 16th. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price target (up from $63.00) on shares of Bristol-Myers Squibb in a research report on Thursday. BMO Capital Markets reissued an “underperform” rating and issued a $47.00 price target (down from $51.00) on shares of Bristol-Myers Squibb in a research report on Wednesday, July 26th. Leerink Swann reduced their price target on Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $62.31.

In other news, Director Theodore R. Samuels II purchased 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Company (NYSE:BMY).

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

Receive News & Stock Ratings for Bristol-Myers Squibb Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb Company and related stocks with our FREE daily email newsletter.