Brighton Jones LLC Lowers Holdings in Bristol-Myers Squibb Co (BMY)
Brighton Jones LLC lessened its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,568 shares of the biopharmaceutical company’s stock after selling 1,310 shares during the period. Brighton Jones LLC’s holdings in Bristol-Myers Squibb were worth $718,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Cypress Capital Management LLC WY boosted its position in shares of Bristol-Myers Squibb by 154.7% in the third quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 1,160 shares during the period. CSat Investment Advisory L.P. purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $113,000. Landaas & Co. WI ADV purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $131,000. Selective Wealth Management purchased a new stake in shares of Bristol-Myers Squibb in the third quarter worth about $184,000. Finally, LFA Lugano Financial Advisors SA boosted its position in shares of Bristol-Myers Squibb by 85.8% in the third quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 1,481 shares during the period. 72.60% of the stock is owned by hedge funds and other institutional investors.
BMY has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Bristol-Myers Squibb from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, October 8th. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $62.00 to $57.00 in a research report on Monday, October 22nd. Credit Suisse Group reaffirmed a “hold” rating and issued a $61.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, September 12th. Zacks Investment Research downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Finally, ValuEngine downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $62.48.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.18. The firm had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.72 billion. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. On average, research analysts anticipate that Bristol-Myers Squibb Co will post 3.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Friday, October 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Thursday, October 4th. Bristol-Myers Squibb’s payout ratio is currently 53.16%.
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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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