Mechanics Bank Trust Department Has $6.63 Million Stake in Bristol-Myers Squibb Company (BMY)
Mechanics Bank Trust Department decreased its holdings in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 0.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 118,907 shares of the biopharmaceutical company’s stock after selling 366 shares during the quarter. Bristol-Myers Squibb accounts for about 1.6% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 16th biggest position. Mechanics Bank Trust Department’s holdings in Bristol-Myers Squibb were worth $6,626,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Chip Partners Inc. grew its stake in shares of Bristol-Myers Squibb by 0.8% during the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares during the last quarter. Keel Point LLC grew its stake in shares of Bristol-Myers Squibb by 0.3% during the first quarter. Keel Point LLC now owns 6,286 shares of the biopharmaceutical company’s stock valued at $342,000 after buying an additional 18 shares during the last quarter. Staley Capital Advisers Inc. grew its stake in shares of Bristol-Myers Squibb by 0.3% during the first quarter. Staley Capital Advisers Inc. now owns 6,962 shares of the biopharmaceutical company’s stock valued at $379,000 after buying an additional 24 shares during the last quarter. Shayne & CO. LLC grew its stake in shares of Bristol-Myers Squibb by 0.6% during the second quarter. Shayne & CO. LLC now owns 4,041 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 24 shares during the last quarter. Finally, Founders Capital Management LLC grew its stake in shares of Bristol-Myers Squibb by 0.7% during the first quarter. Founders Capital Management LLC now owns 4,097 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 29 shares during the last quarter. 68.80% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Joseph C. Caldarella sold 9,340 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total transaction of $560,400.00. Following the completion of the transaction, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Theodore R. Samuels II bought 6,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average price of $55.94 per share, with a total value of $335,640.00. Following the purchase, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The disclosure for this purchase can be found here. Insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb Company (BMY) traded down 0.33% during mid-day trading on Friday, reaching $62.48. The company’s stock had a trading volume of 10,407,558 shares. The firm has a market capitalization of $102.46 billion, a price-to-earnings ratio of 22.82 and a beta of 1.18. The company’s 50-day moving average price is $58.56 and its 200 day moving average price is $55.95. Bristol-Myers Squibb Company has a 52 week low of $46.01 and a 52 week high of $63.47. Bristol-Myers Squibb also was the target of unusually large options trading activity on Thursday. Traders bought 781 put options on the stock. This represents an increase of approximately 117% compared to the typical volume of 360 put options.
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 Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, equities analysts forecast that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.50%. Bristol-Myers Squibb’s payout ratio is currently 56.73%.
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BMY has been the topic of a number of analyst reports. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $65.00 target price (up previously from $62.00) on shares of Bristol-Myers Squibb in a research note on Thursday, September 7th. Jefferies Group LLC reissued a “buy” rating and issued a $64.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. Piper Jaffray Companies set a $60.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Thursday, July 27th. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $58.88 price objective on the stock in a research note on Monday, June 5th. Finally, BidaskClub cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $62.66.
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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