Pettee Investors Inc. cut its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,647 shares of the biopharmaceutical company’s stock after selling 1,100 shares during the quarter. Bristol-Myers Squibb makes up 2.0% of Pettee Investors Inc.’s investment portfolio, making the stock its 9th largest position. Pettee Investors Inc.’s holdings in Bristol-Myers Squibb were worth $3,190,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mutual Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 5.2% in the second quarter. Mutual Advisors LLC now owns 22,546 shares of the biopharmaceutical company’s stock worth $1,248,000 after acquiring an additional 1,114 shares during the last quarter. Bridges Investment Management Inc. boosted its position in shares of Bristol-Myers Squibb by 5.9% in the second quarter. Bridges Investment Management Inc. now owns 41,524 shares of the biopharmaceutical company’s stock worth $2,298,000 after acquiring an additional 2,315 shares during the last quarter. Cozad Asset Management Inc. acquired a new stake in shares of Bristol-Myers Squibb in the second quarter worth approximately $774,000. Moneta Group Investment Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 95.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 18,932 shares of the biopharmaceutical company’s stock worth $1,048,000 after acquiring an additional 9,230 shares during the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter worth approximately $38,238,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

BMY has been the topic of several research analyst reports. UBS Group cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Monday, May 21st. BMO Capital Markets reissued a “hold” rating and issued a $47.00 target price on shares of Bristol-Myers Squibb in a research report on Thursday, June 21st. ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Jefferies Financial Group set a $58.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Sunday, July 15th. Finally, Credit Suisse Group raised their target price on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $62.89.

BMY stock traded down $0.34 during midday trading on Friday, reaching $60.45. 9,974 shares of the company’s stock traded hands, compared to its average volume of 4,720,218. The stock has a market cap of $98.61 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.52 and a beta of 1.02. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.46. Bristol-Myers Squibb Co has a fifty-two week low of $49.96 and a fifty-two week high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.14. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. Bristol-Myers Squibb’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. equities analysts forecast that Bristol-Myers Squibb Co will post 3.62 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, October 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 53.16%.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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

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