Bridge Creek Capital Management LLC Sells 212 Shares of Bristol-Myers Squibb (NYSE:BMY)

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Bridge Creek Capital Management LLC cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,980 shares of the biopharmaceutical company’s stock after selling 212 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Bristol-Myers Squibb by 2.5% during the second quarter. Vanguard Group Inc. now owns 203,888,386 shares of the biopharmaceutical company’s stock valued at $11,988,638,000 after purchasing an additional 4,984,471 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Bristol-Myers Squibb by 97.0% in the second quarter. Nordea Investment Management AB now owns 19,622,338 shares of the biopharmaceutical company’s stock worth $1,131,816,000 after acquiring an additional 9,660,989 shares in the last quarter. Capital World Investors boosted its holdings in Bristol-Myers Squibb by 4.7% in the first quarter. Capital World Investors now owns 13,307,482 shares of the biopharmaceutical company’s stock worth $741,759,000 after acquiring an additional 601,947 shares in the last quarter. Independent Franchise Partners LLP boosted its holdings in Bristol-Myers Squibb by 21.9% in the second quarter. Independent Franchise Partners LLP now owns 10,851,078 shares of the biopharmaceutical company’s stock worth $638,043,000 after acquiring an additional 1,948,073 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Bristol-Myers Squibb by 0.6% in the second quarter. Prudential Financial Inc. now owns 5,428,746 shares of the biopharmaceutical company’s stock worth $319,210,000 after acquiring an additional 31,859 shares in the last quarter. Institutional investors own 72.61% of the company’s stock.

BMY has been the topic of several analyst reports. Morgan Stanley boosted their target price on Bristol-Myers Squibb from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Seaport Global Securities initiated coverage on Bristol-Myers Squibb in a report on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 target price on the stock. Berenberg Bank initiated coverage on Bristol-Myers Squibb in a report on Tuesday, September 29th. They issued a “buy” rating and a $73.00 target price on the stock. Cfra reaffirmed a “buy” rating and set a $70.00 price target on shares of Bristol-Myers Squibb in a report on Sunday, July 26th. Finally, Raymond James reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a report on Friday, September 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $71.00.

Bristol-Myers Squibb stock traded up $0.82 during mid-day trading on Friday, reaching $61.24. 9,385,613 shares of the stock traded hands, compared to its average volume of 13,948,471. The stock has a market capitalization of $138.57 billion, a PE ratio of -612.34, a price-to-earnings-growth ratio of 1.15 and a beta of 0.71. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.47 and a quick ratio of 1.36. Bristol-Myers Squibb has a 12-month low of $45.76 and a 12-month high of $68.34. The business’s 50-day moving average is $60.00 and its 200-day moving average is $59.86.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.15. The business had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.04 billion. Bristol-Myers Squibb had a positive return on equity of 28.47% and a negative net margin of 1.61%. The business’s quarterly revenue was up 61.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 earnings per share. Equities analysts anticipate that Bristol-Myers Squibb will post 6.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, October 1st. Bristol-Myers Squibb’s payout ratio is 38.38%.

In other news, CEO Giovanni Caforio sold 39,840 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $62.70, for a total value of $2,497,968.00. Following the completion of the transaction, the chief executive officer now owns 445,584 shares of the company’s stock, valued at $27,938,116.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Joseph Eid sold 5,327 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $64.00, for a total value of $340,928.00. Following the completion of the transaction, the senior vice president now directly owns 2,534 shares of the company’s stock, valued at approximately $162,176. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,587 shares of company stock valued at $11,782,297. Company insiders own 0.14% of the company’s stock.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products in the following therapeutic classes: hematology, oncology, cardiovascular, and immunology. 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 active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.

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

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