Los Angeles Capital Management & Equity Research Inc. trimmed its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,145,801 shares of the biopharmaceutical company’s stock after selling 94,101 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Bristol-Myers Squibb were worth $70,215,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Delphi Private Advisors LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $108,000. Massey Quick Simon & CO. LLC increased its stake in Bristol-Myers Squibb by 523.5% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,777 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 1,492 shares during the period. Horan Capital Advisors LLC. purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $122,000. Atlantic Trust LLC purchased a new stake in Bristol-Myers Squibb during the 2nd quarter worth approximately $111,000. Finally, AllSquare Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $134,000. 70.57% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Thomas J. Jr. Lynch sold 5,300 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total value of $335,172.00. Following the completion of the transaction, the executive vice president now owns 9,251 shares in the company, valued at approximately $585,033.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Theodore R. Samuels II bought 4,000 shares of the stock in a transaction dated Friday, December 15th. The stock was bought at an average price of $62.30 per share, with a total value of $249,200.00. Following the acquisition, the director now owns 22,000 shares in the company, valued at approximately $1,370,600. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 35.43%. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. sell-side analysts expect that Bristol-Myers Squibb Co will post 3.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Friday, April 6th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, April 5th. Bristol-Myers Squibb’s payout ratio is 271.19%.
BMY has been the topic of several recent research reports. Vetr downgraded shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 target price on the stock. in a research note on Tuesday, January 16th. Citigroup set a $72.00 price objective on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research report on Tuesday, December 5th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Credit Suisse Group set a $62.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Monday, January 22nd. Finally, BMO Capital Markets set a $49.00 price objective on shares of Bristol-Myers Squibb and gave the company a “sell” rating in a research report on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $66.30.
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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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