KCM Investment Advisors LLC Trims Holdings in Bristol-Myers Squibb Co (NYSE:BMY)
KCM Investment Advisors LLC decreased its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 124,805 shares of the biopharmaceutical company’s stock after selling 9,176 shares during the quarter. KCM Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $8,011,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Anderson Fisher LLC raised its holdings in shares of Bristol-Myers Squibb by 1.7% in the 4th quarter. Anderson Fisher LLC now owns 24,792 shares of the biopharmaceutical company’s stock valued at $1,591,000 after buying an additional 417 shares during the period. Earnest Partners LLC raised its holdings in shares of Bristol-Myers Squibb by 45.4% in the 4th quarter. Earnest Partners LLC now owns 1,147 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 358 shares during the period. Becker Capital Management Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $220,000. Benin Management CORP raised its holdings in shares of Bristol-Myers Squibb by 35.4% in the 4th quarter. Benin Management CORP now owns 11,868 shares of the biopharmaceutical company’s stock valued at $762,000 after buying an additional 3,100 shares during the period. Finally, Financial Counselors Inc. raised its holdings in shares of Bristol-Myers Squibb by 9.0% in the 4th quarter. Financial Counselors Inc. now owns 168,235 shares of the biopharmaceutical company’s stock valued at $10,799,000 after buying an additional 13,916 shares during the period. Hedge funds and other institutional investors own 77.88% of the company’s stock.
In other news, EVP John E. Elicker sold 15,805 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $61.01, for a total transaction of $964,263.05. Following the completion of the transaction, the executive vice president now directly owns 58,666 shares of the company’s stock, valued at approximately $3,579,212.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.34. The firm had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Bristol-Myers Squibb had a return on equity of 31.85% and a net margin of 13.15%. Bristol-Myers Squibb’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. Equities analysts expect that Bristol-Myers Squibb Co will post 6.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 3rd will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, April 2nd. This represents a $1.80 annualized dividend and a dividend yield of 3.45%. Bristol-Myers Squibb’s dividend payout ratio is currently 38.38%.
BMY has been the topic of several research analyst reports. Barclays initiated coverage on Bristol-Myers Squibb in a report on Thursday, February 27th. They issued an “equal weight” rating and a $69.00 price objective on the stock. ValuEngine upgraded Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a report on Monday, March 9th. William Blair reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Friday, February 14th. Argus raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, December 13th. Finally, Gabelli initiated coverage on Bristol-Myers Squibb in a research note on Wednesday, November 27th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $62.08.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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