Cottage Street Advisors LLC Has $854,000 Position in Bristol-Myers Squibb Co (BMY)
Cottage Street Advisors LLC lessened its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,924 shares of the biopharmaceutical company’s stock after selling 1,266 shares during the period. Cottage Street Advisors LLC’s holdings in Bristol-Myers Squibb were worth $854,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in Bristol-Myers Squibb by 10.7% in the 2nd quarter. First Trust Advisors LP now owns 433,050 shares of the biopharmaceutical company’s stock worth $24,130,000 after acquiring an additional 41,892 shares during the period. Advisor Partners LLC raised its holdings in Bristol-Myers Squibb by 6.9% in the 3rd quarter. Advisor Partners LLC now owns 36,961 shares of the biopharmaceutical company’s stock worth $2,356,000 after acquiring an additional 2,382 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Bristol-Myers Squibb by 2.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 358,509 shares of the biopharmaceutical company’s stock worth $19,976,000 after acquiring an additional 8,813 shares during the period. Israel Discount Bank of New York raised its holdings in Bristol-Myers Squibb by 31.8% in the 2nd quarter. Israel Discount Bank of New York now owns 10,515 shares of the biopharmaceutical company’s stock worth $586,000 after acquiring an additional 2,540 shares during the period. Finally, Dividend Assets Capital LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter worth $737,000. 69.56% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on BMY shares. Citigroup set a $72.00 target price on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Wednesday, November 1st. SunTrust Banks upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Vetr downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $59.70 target price on the stock. in a report on Friday, December 22nd. Finally, Credit Suisse Group restated a “hold” rating and set a $61.00 price objective (up previously from $58.00) on shares of Bristol-Myers Squibb in a report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $65.58.
Shares of Bristol-Myers Squibb Co (NYSE BMY) opened at $65.35 on Thursday. The firm has a market cap of $106,960.00, a PE ratio of 110.76, a P/E/G ratio of 1.96 and a beta of 1.08. Bristol-Myers Squibb Co has a 52 week low of $51.56 and a 52 week high of $66.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 33.68%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. equities analysts expect that Bristol-Myers Squibb Co will post 3.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were paid a $0.40 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.45%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s payout ratio is presently 271.19%.
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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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