Mizuho Trust & Banking Co. Ltd. increased its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 2,694,920 shares of the biopharmaceutical company’s stock after buying an additional 23,167 shares during the period. Mizuho Trust & Banking Co. Ltd.’s holdings in Bristol-Myers Squibb were worth $198,211,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in BMY. Jolley Asset Management LLC raised 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. Solaris Asset Management LLC raised its position in shares of Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock valued at $165,000 after buying an additional 75 shares in the last quarter. Madrona Financial Services LLC purchased a new position in shares of Bristol-Myers Squibb during the second quarter valued at approximately $200,000. Univest Corp of Pennsylvania purchased a new position in shares of Bristol-Myers Squibb during the second quarter valued at approximately $202,000. Finally, Smith & Howard Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $204,000. Institutional investors and hedge funds own 72.87% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 1.85% during mid-day trading on Friday, hitting $51.00. The company had a trading volume of 13,798,712 shares. Bristol-Myers Squibb Co. has a 12 month low of $49.03 and a 12 month high of $77.12. The firm has a market capitalization of $85.21 billion, a P/E ratio of 25.51 and a beta of 0.74. The firm has a 50-day moving average price of $53.14 and a 200 day moving average price of $65.23.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12. Bristol-Myers Squibb had a return on equity of 29.52% and a net margin of 18.54%. The company earned $4.83 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period last year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb Co. will post $2.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.98%. Bristol-Myers Squibb’s payout ratio is 74.51%.
BMY has been the topic of several research reports. Goldman Sachs Group Inc. lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $75.00 price target on the stock. in a research note on Thursday, October 13th. Barclays PLC restated an “equal weight” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, October 12th. Morgan Stanley restated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Thursday, August 25th. Deutsche Bank AG lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. Finally, SunTrust Banks Inc. restated a “hold” rating and set a $62.00 price target (down previously from $68.00) on shares of Bristol-Myers Squibb in a research note on Monday, October 10th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $68.36.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $59.17, for a total transaction of $1,372,744.00. Following the completion of 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. Company insiders own 0.24% of the company’s stock.
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.