Trading Report: The 2,296 Shares of Bristol-Myers Squibb Co. (BMY) are sold by Schmidt P J Investment Management Inc.

The 2,296 Shares of Bristol-Myers Squibb Co. (BMY) are sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. decreased its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 2.1% during the second quarter, Holdings Channel reports. The firm owned 108,437 shares of the biopharmaceutical company’s stock after selling 2,296 shares during the period. Bristol-Myers Squibb comprises approximately 3.0% of Schmidt P J Investment Management Inc.’s investment portfolio, making the stock its 2nd largest position. Schmidt P J Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $7,976,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Taylor Cottrill Erickson & Associates Inc. purchased a new position in shares of Bristol-Myers Squibb during the second quarter valued at about $774,000. Teacher Retirement System of Texas increased its stake in Bristol-Myers Squibb by 2.7% in the second quarter. Teacher Retirement System of Texas now owns 1,018,549 shares of the biopharmaceutical company’s stock worth $74,914,000 after buying an additional 26,552 shares in the last quarter. Edge Asset Management Inc. increased its stake in Bristol-Myers Squibb by 30.5% in the second quarter. Edge Asset Management Inc. now owns 351,767 shares of the biopharmaceutical company’s stock worth $25,872,000 after buying an additional 82,298 shares in the last quarter. Intersect Capital LLC increased its stake in Bristol-Myers Squibb by 1.6% in the second quarter. Intersect Capital LLC now owns 10,152 shares of the biopharmaceutical company’s stock worth $747,000 after buying an additional 156 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its stake in Bristol-Myers Squibb by 2.3% in the second quarter. Capital Advisors Inc. OK now owns 111,665 shares of the biopharmaceutical company’s stock worth $8,213,000 after buying an additional 2,461 shares in the last quarter. 72.91% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.69% during mid-day trading on Friday, hitting $55.43. The stock had a trading volume of 12,714,378 shares. The firm’s 50-day moving average price is $56.41 and its 200-day moving average price is $66.79. The stock has a market cap of $92.62 billion, a PE ratio of 32.42 and a beta of 0.74. Bristol-Myers Squibb Co. has a 1-year low of $53.56 and a 1-year high of $77.12.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same period last year, the company posted $0.53 EPS. The business’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities analysts expect that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current 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 given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.

A number of equities research analysts recently commented on the company. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $75.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, September 27th. Citigroup Inc. dropped their price objective on Bristol-Myers Squibb from $75.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, September 20th. Jefferies Group reiterated a “hold” rating and issued a $57.00 price objective (down previously from $69.00) on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Barclays PLC dropped their price objective on Bristol-Myers Squibb from $75.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, September 9th. Finally, Leerink Swann reiterated a “buy” rating and issued a $75.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday, September 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $69.91.

In related news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the sale, the director now directly owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is 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.

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