abrdn plc Has $364.74 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

abrdn plc raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 5,458,524 shares of the biopharmaceutical company’s stock after buying an additional 37,160 shares during the period. Bristol-Myers Squibb comprises 0.8% of abrdn plc’s holdings, making the stock its 22nd biggest holding. abrdn plc’s holdings in Bristol-Myers Squibb were worth $364,738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Horan Securities Inc. boosted its holdings in Bristol-Myers Squibb by 217.3% during the second quarter. Horan Securities Inc. now owns 441 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares in the last quarter. PNC Managed Account Solutions Inc. acquired a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $37,000. Regency Capital Management Inc. DE acquired a new stake in Bristol-Myers Squibb during the first quarter valued at approximately $43,000. Cypress Point Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $48,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the first quarter valued at approximately $55,000. 72.10% of the stock is currently owned by institutional investors.

BMY has been the topic of a number of recent research reports. Truist initiated coverage on Bristol-Myers Squibb in a report on Wednesday, July 28th. They set a “buy” rating and a $74.00 price objective on the stock. Bank of America reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. Morgan Stanley lifted their target price on shares of Bristol-Myers Squibb from $62.00 to $71.00 and gave the company an “equal weight” rating in a research note on Thursday, July 29th. Finally, Truist Securities initiated coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. They issued a “buy” rating and a $74.00 target price for the company. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $73.83.

BMY traded up $0.01 during trading on Wednesday, reaching $62.12. 270,785 shares of the company’s stock were exchanged, compared to its average volume of 10,518,307. The company’s fifty day moving average price is $67.09 and its 200-day moving average price is $65.36. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.42 and a current ratio of 1.54. Bristol-Myers Squibb has a fifty-two week low of $56.75 and a fifty-two week high of $69.75. The firm has a market capitalization of $138.04 billion, a PE ratio of -27.36, a P/E/G ratio of 1.20 and a beta of 0.61.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Tuesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. Bristol-Myers Squibb had a negative net margin of 11.44% and a positive return on equity of 37.76%. The firm had revenue of $11.70 billion during the quarter, compared to analyst estimates of $11.24 billion. Research analysts forecast that Bristol-Myers Squibb will post 7.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 1st will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 30th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 30.43%.

In related news, CFO David V. Elkins sold 99,691 shares of the company’s stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $66.95, for a total value of $6,674,312.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by insiders.

Bristol-Myers Squibb Profile

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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

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