Tufton Capital Management lowered its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 96,285 shares of the biopharmaceutical company’s stock after selling 3,109 shares during the period. Bristol-Myers Squibb makes up approximately 1.4% of Tufton Capital Management’s portfolio, making the stock its 26th largest position. Tufton Capital Management’s holdings in Bristol-Myers Squibb were worth $7,082,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of BMY. Jolley Asset Management LLC boosted its stake in Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares during the last quarter. Univest Corp of Pennsylvania purchased a new stake in Bristol-Myers Squibb during the second quarter worth approximately $202,000. Smith & Howard Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the first quarter worth approximately $204,000. Windsor Financial Group LLC purchased a new stake in Bristol-Myers Squibb during the second quarter worth approximately $205,000. Finally, Balentine LLC boosted its stake in Bristol-Myers Squibb by 45.2% in the first quarter. Balentine LLC now owns 3,356 shares of the biopharmaceutical company’s stock worth $214,000 after buying an additional 1,045 shares during the last quarter. Hedge funds and other institutional investors own 72.88% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.93% during mid-day trading on Wednesday, reaching $50.01. 18,134,010 shares of the company’s stock were exchanged. Bristol-Myers Squibb Co. has a 1-year low of $49.50 and a 1-year high of $77.12. The company’s 50 day moving average is $55.86 and its 200 day moving average is $66.63. The stock has a market capitalization of $83.56 billion, a PE ratio of 29.25 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Equities research analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 87.36%.
BMY has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Wednesday, July 13th. Berenberg Bank reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Wednesday, July 6th. Citigroup Inc. cut their price target on shares of Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Finally, Leerink Swann restated a “buy” rating and issued a $85.00 target price on shares of Bristol-Myers Squibb in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $69.31.
In other news, Director Lamberto Andreotti sold 23,200 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $59.17, for a total value of $1,372,744.00. Following the sale, the director now directly owns 364,999 shares of the company’s stock, valued at approximately $21,596,990.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by insiders.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.