Stokes & Hubbell Capital Management LLC increased its holdings in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 137.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,858 shares of the biopharmaceutical company’s stock after acquiring an additional 21,926 shares during the period. Stokes & Hubbell Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $2,413,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Bristol-Myers Squibb by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after buying an additional 333,685 shares during the last quarter. BlackRock Inc. boosted its holdings in Bristol-Myers Squibb by 2.4% in the 2nd quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after buying an additional 2,367,864 shares during the last quarter. State Street Corp boosted its holdings in Bristol-Myers Squibb by 1.8% in the 1st quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock worth $3,746,446,000 after buying an additional 1,223,457 shares during the last quarter. Dodge & Cox boosted its holdings in Bristol-Myers Squibb by 1.6% in the 2nd quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after buying an additional 459,271 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Bristol-Myers Squibb by 3.9% in the 2nd quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock worth $1,339,612,000 after buying an additional 910,496 shares during the last quarter. Hedge funds and other institutional investors own 69.82% of the company’s stock.
Several research firms recently issued reports on BMY. Barclays lifted their price objective on Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, October 13th. Jefferies Group cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 price objective on the stock. in a report on Monday, October 16th. BMO Capital Markets set a $49.00 target price on shares of Bristol-Myers Squibb and gave the stock a “sell” rating in a research note on Thursday, October 12th. Leerink Swann raised their target price on shares of Bristol-Myers Squibb from $61.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, October 23rd. Finally, Citigroup raised their target price on shares of Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $64.93.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). The firm had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. analysts forecast that Bristol-Myers Squibb Company will post 2.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, January 4th. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s payout ratio is presently 61.42%.
In other news, EVP Thomas J. Jr. Lynch sold 5,300 shares of Bristol-Myers Squibb stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total transaction of $335,172.00. Following the sale, the executive vice president now owns 9,251 shares of the company’s stock, valued at approximately $585,033.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sandra Leung sold 156,582 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the sale, the executive vice president now directly owns 584,373 shares in the company, valued at approximately $37,031,717.01. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.
Bristol-Myers Squibb Profile
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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