Cadence Bank NA Purchases 364 Shares of Bristol-Myers Squibb Company (BMY)
Cadence Bank NA lifted its position in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,810 shares of the biopharmaceutical company’s stock after purchasing an additional 364 shares during the period. Cadence Bank NA’s holdings in Bristol-Myers Squibb were worth $937,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Welch Investments LLC raised its holdings in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 79 shares in the last quarter. Blue Chip Partners Inc. raised its holdings in 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 valued at $116,000 after acquiring an additional 17 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in 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 valued at $119,000 after acquiring an additional 504 shares in the last quarter. American National Bank raised its holdings in Bristol-Myers Squibb by 11.7% in the second quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 225 shares in the last quarter. Finally, Heritage Trust Co acquired a new stake in Bristol-Myers Squibb in the first quarter valued at $123,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Bristol-Myers Squibb Company (BMY) opened at 64.81 on Monday. Bristol-Myers Squibb Company has a 1-year low of $46.01 and a 1-year high of $65.03. The company has a market cap of $106.28 billion, a price-to-earnings ratio of 23.67 and a beta of 1.19. The firm’s 50-day moving average is $61.56 and its 200 day moving average is $56.65.
Bristol-Myers Squibb (NYSE:BMY) last issued its 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. The firm 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%. Bristol-Myers Squibb’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.69 earnings per share. Equities analysts expect that Bristol-Myers Squibb Company will post $2.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.41%. Bristol-Myers Squibb’s payout ratio is presently 56.73%.
Several research firms recently issued reports on BMY. Vetr cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $64.20 price target on the stock. in a report on Tuesday, August 22nd. Deutsche Bank AG set a $55.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a report on Monday, July 17th. Credit Suisse Group set a $58.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a report on Wednesday, August 16th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a report on Wednesday, July 12th. Finally, Cowen and Company set a $65.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $62.38.
In related news, Director Theodore R. Samuels II acquired 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was bought at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of 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 SEC, which is available at the SEC website. Also, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the transaction, the senior vice president now directly owns 46,297 shares of the company’s stock, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.
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.
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