Independent Investors Inc. cut its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,520 shares of the biopharmaceutical company’s stock after selling 2,400 shares during the period. Bristol-Myers Squibb accounts for 0.9% of Independent Investors Inc.’s portfolio, making the stock its 27th largest position. Independent Investors Inc.’s holdings in Bristol-Myers Squibb were worth $2,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Arlington Partners LLC grew its position in shares of Bristol-Myers Squibb by 40.0% during the fourth quarter. Arlington Partners LLC now owns 1,400 shares of the biopharmaceutical company’s stock worth $73,000 after acquiring an additional 400 shares during the last quarter. Cypress Capital Management LLC WY grew its position in shares of Bristol-Myers Squibb by 154.7% during the third quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 1,160 shares during the last quarter. CLS Investments LLC grew its position in shares of Bristol-Myers Squibb by 194.3% during the third quarter. CLS Investments LLC now owns 2,575 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 1,700 shares during the last quarter. Highwater Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $170,000. Finally, Selective Wealth Management bought a new position in shares of Bristol-Myers Squibb during the third quarter worth about $184,000. 72.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BMY opened at $47.99 on Monday. The stock has a market capitalization of $77.01 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.29 and a beta of 0.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 1.40. Bristol-Myers Squibb Co has a 52-week low of $44.30 and a 52-week high of $70.05.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.18. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. The firm had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.72 billion. Equities research analysts expect that Bristol-Myers Squibb Co will post 3.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Friday, January 4th will be given a dividend of $0.41 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, January 3rd. This represents a $1.64 annualized dividend and a dividend yield of 3.42%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 54.49%.
BMY has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Friday, October 5th. BMO Capital Markets reiterated a “buy” rating and issued a $60.00 target price on shares of Bristol-Myers Squibb in a research report on Thursday, January 3rd. Barclays increased their target price on shares of Bristol-Myers Squibb from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, October 12th. Credit Suisse Group set a $61.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Sunday, October 14th. Finally, Morgan Stanley decreased their target price on shares of Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, November 6th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $61.56.
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 areas, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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