SevenBridge Financial Group LLC reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,824 shares of the biopharmaceutical company’s stock after selling 744 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Bristol-Myers Squibb were worth $397,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in BMY. WestEnd Advisors LLC lifted its position in Bristol-Myers Squibb by 12.1% during the 1st quarter. WestEnd Advisors LLC now owns 706,697 shares of the biopharmaceutical company’s stock valued at $33,717,000 after purchasing an additional 76,013 shares during the period. Stephens Inc. AR lifted its position in Bristol-Myers Squibb by 30.7% during the 1st quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock valued at $10,331,000 after purchasing an additional 50,798 shares during the period. Sand Hill Global Advisors LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter valued at about $268,000. Goelzer Investment Management Inc. lifted its position in Bristol-Myers Squibb by 117.3% during the 1st quarter. Goelzer Investment Management Inc. now owns 157,471 shares of the biopharmaceutical company’s stock valued at $7,513,000 after purchasing an additional 85,002 shares during the period. Finally, Evermay Wealth Management LLC lifted its position in Bristol-Myers Squibb by 6.9% during the 1st quarter. Evermay Wealth Management LLC now owns 8,403 shares of the biopharmaceutical company’s stock valued at $401,000 after purchasing an additional 541 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.
BMY stock traded up $0.16 during mid-day trading on Wednesday, hitting $50.52. 1,846,404 shares of the company were exchanged, compared to its average volume of 15,380,078. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. The firm has a market cap of $83.02 billion, a P/E ratio of 12.69, a P/E/G ratio of 2.50 and a beta of 0.72. The firm’s 50 day simple moving average is $49.11 and its 200 day simple moving average is $47.01. Bristol-Myers Squibb Co has a 1-year low of $42.48 and a 1-year high of $63.69.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.64 annualized dividend and a yield of 3.25%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 41.21%.
BMY has been the topic of a number of research reports. Bank of America upped their target price on shares of Bristol-Myers Squibb from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. ValuEngine upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. set a $62.00 price target on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research report on Friday, September 13th. UBS Group cut their price target on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, June 13th. Finally, Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a research report on Wednesday, August 14th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Bristol-Myers Squibb has an average rating of “Buy” and an average price target of $55.74.
In related news, Director Robert J. Bertolini bought 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were purchased at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the acquisition, the director now owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb Profile
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.
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.