Northern Trust Corp lessened its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,049,061 shares of the biopharmaceutical company’s stock after selling 846,178 shares during the quarter. Northern Trust Corp’s holdings in Bristol-Myers Squibb were worth $1,220,196,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at approximately $101,000. Institutional & Family Asset Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at approximately $106,000. CSat Investment Advisory L.P. acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at approximately $113,000. Landaas & Co. WI ADV acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at approximately $131,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at approximately $179,000. 72.24% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the company. ValuEngine raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Credit Suisse Group increased their price objective on Bristol-Myers Squibb from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. BMO Capital Markets reiterated a “hold” rating and issued a $47.00 price objective on shares of Bristol-Myers Squibb in a research report on Thursday, June 21st. Jefferies Financial Group set a $58.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Sunday, July 15th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $67.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, July 31st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $62.89.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.87 by $0.14. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period last year, the business posted $0.74 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. equities research analysts predict that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. Bristol-Myers Squibb’s dividend payout ratio is currently 53.16%.
About Bristol-Myers Squibb
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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