Fiduciary Group LLC Cuts Holdings in Bristol-Myers Squibb Co (BMY)
Fiduciary Group LLC cut its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,819 shares of the biopharmaceutical company’s stock after selling 2,350 shares during the period. Fiduciary Group LLC’s holdings in Bristol-Myers Squibb were worth $1,595,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Bristol-Myers Squibb during the first quarter worth approximately $101,000. Institutional & Family Asset Management LLC acquired a new stake in Bristol-Myers Squibb during the first quarter worth approximately $106,000. Centerpoint Advisors LLC lifted its position in Bristol-Myers Squibb by 373.1% during the first quarter. Centerpoint Advisors LLC now owns 1,774 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 1,399 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in Bristol-Myers Squibb during the first quarter worth approximately $179,000. Finally, Valmark Advisers Inc. acquired a new stake in Bristol-Myers Squibb during the first quarter worth approximately $202,000. Hedge funds and other institutional investors own 71.39% of the company’s stock.
A number of research firms have recently weighed in on BMY. Atlantic Securities upgraded shares of Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 price target for the company in a research report on Wednesday. SunTrust Banks reiterated a “buy” rating and issued a $67.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, July 31st. Credit Suisse Group lifted their price target on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $47.00 to $51.00 and gave the company a “market perform” rating in a research report on Monday, July 23rd. Finally, Jefferies Financial Group set a $58.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Sunday, July 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $63.11.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.14. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. equities analysts predict that Bristol-Myers Squibb Co will post 3.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Friday, July 6th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 53.16%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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