Ameriprise Financial Inc. Boosts Position in Bristol-Myers Squibb Company (BMY)
Ameriprise Financial Inc. increased its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 18.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,547,051 shares of the biopharmaceutical company’s stock after buying an additional 2,451,390 shares during the period. Ameriprise Financial Inc. owned 0.93% of Bristol-Myers Squibb worth $845,504,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Capstone Asset Management Co. boosted its stake in Bristol-Myers Squibb by 2.3% in the first quarter. Capstone Asset Management Co. now owns 43,924 shares of the biopharmaceutical company’s stock valued at $2,389,000 after buying an additional 970 shares during the period. Jacobs & Co. CA boosted its stake in Bristol-Myers Squibb by 10.2% in the first quarter. Jacobs & Co. CA now owns 59,795 shares of the biopharmaceutical company’s stock valued at $3,251,000 after buying an additional 5,523 shares during the period. First PREMIER Bank boosted its stake in Bristol-Myers Squibb by 14.3% in the first quarter. First PREMIER Bank now owns 6,651 shares of the biopharmaceutical company’s stock valued at $362,000 after buying an additional 833 shares during the period. CrestPoint Capital Management LLC boosted its stake in Bristol-Myers Squibb by 4.8% in the first quarter. CrestPoint Capital Management LLC now owns 21,900 shares of the biopharmaceutical company’s stock valued at $1,191,000 after buying an additional 1,000 shares during the period. Finally, Marshwinds Advisory Co. boosted its stake in Bristol-Myers Squibb by 0.9% in the first quarter. Marshwinds Advisory Co. now owns 44,087 shares of the biopharmaceutical company’s stock valued at $2,397,000 after buying an additional 395 shares during the period. Hedge funds and other institutional investors own 68.78% of the company’s stock.
Shares of Bristol-Myers Squibb Company (NYSE:BMY) traded down 0.20% during midday trading on Tuesday, reaching $58.46. 680,744 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $56.20 and its 200-day moving average is $55.23. The stock has a market cap of $95.87 billion, a PE ratio of 21.35 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 (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping 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 business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the firm earned $0.69 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities analysts expect that Bristol-Myers Squibb Company will post $2.98 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.66%. Bristol-Myers Squibb’s dividend payout ratio is presently 56.73%.
ILLEGAL ACTIVITY NOTICE: This report was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/08/29/ameriprise-financial-inc-boosts-position-in-bristol-myers-squibb-company-bmy.html.
Several analysts have recently weighed in on the stock. Credit Suisse Group set a $58.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Wednesday, August 16th. Jefferies Group LLC restated a “buy” rating and set a $66.00 price objective (up previously from $63.00) on shares of Bristol-Myers Squibb in a research report on Thursday, August 24th. Vetr cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $64.20 price objective on the stock. in a research report on Tuesday, August 22nd. Cowen and Company set a $65.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Monday, August 14th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $62.31.
In related news, Director Theodore R. Samuels II acquired 6,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, August 2nd. The shares were 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by 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.
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).
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.