Essex Financial Services Inc. Has $2.46 Million Position in Bristol-Myers Squibb Co (BMY)

Essex Financial Services Inc. decreased its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 26.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,586 shares of the biopharmaceutical company’s stock after selling 14,201 shares during the quarter. Essex Financial Services Inc.’s holdings in Bristol-Myers Squibb were worth $2,458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Principal Financial Group Inc. raised its holdings in Bristol-Myers Squibb by 7.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,094,134 shares of the biopharmaceutical company’s stock worth $195,704,000 after purchasing an additional 225,999 shares during the period. Fisher Asset Management LLC raised its holdings in Bristol-Myers Squibb by 0.7% in the 2nd quarter. Fisher Asset Management LLC now owns 581,310 shares of the biopharmaceutical company’s stock worth $32,170,000 after purchasing an additional 4,229 shares during the period. Xact Kapitalforvaltning AB raised its holdings in Bristol-Myers Squibb by 3.6% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 331,210 shares of the biopharmaceutical company’s stock worth $18,329,000 after purchasing an additional 11,384 shares during the period. First Citizens Bank & Trust Co. raised its holdings in Bristol-Myers Squibb by 26.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,851 shares of the biopharmaceutical company’s stock worth $601,000 after purchasing an additional 2,268 shares during the period. Finally, Covenant Asset Management LLC raised its holdings in Bristol-Myers Squibb by 7.4% in the 2nd quarter. Covenant Asset Management LLC now owns 16,176 shares of the biopharmaceutical company’s stock worth $895,000 after purchasing an additional 1,108 shares during the period. 72.54% of the stock is owned by institutional investors.

BMY stock opened at $53.39 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $86.49 billion, a PE ratio of 17.74, a P/E/G ratio of 1.48 and a beta of 1.08. Bristol-Myers Squibb Co has a 1 year low of $46.94 and a 1 year high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.18. The business had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. Equities research analysts predict that Bristol-Myers Squibb Co will post 3.88 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Friday, October 5th were given a $0.40 dividend. The ex-dividend date was Thursday, October 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 53.16%.

Several equities research analysts have commented on BMY shares. Barclays boosted their price objective on Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, October 12th. Morgan Stanley cut their price objective on Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating for the company in a research note on Tuesday. Credit Suisse Group set a $61.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Sunday, October 14th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Friday, October 5th. Finally, ValuEngine lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $62.48.

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Bristol-Myers Squibb Company 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.

Further Reading: Return on Investment (ROI)

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

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