AE Wealth Management LLC cut its position in Bristol-Myers Squibb Co (NYSE:BMY) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,875 shares of the biopharmaceutical company’s stock after selling 3,021 shares during the quarter. AE Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $3,036,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Garrett Wealth Advisory Group LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $26,000. Lenox Wealth Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 555.7% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 539 shares in the last quarter. Financial Gravity Wealth Inc. boosted its position in shares of Bristol-Myers Squibb by 101.2% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 327 shares in the last quarter. 1 North Wealth Services LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $41,000. Finally, Endurance Wealth Management Inc. boosted its position in shares of Bristol-Myers Squibb by 119.6% during the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 500 shares in the last quarter. 80.90% of the stock is owned by institutional investors and hedge funds.
In other news, SVP John E. Elicker sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $56.66, for a total value of $849,900.00. Following the completion of the sale, the senior vice president now directly owns 74,471 shares of the company’s stock, valued at approximately $4,219,526.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total value of $1,414,000.00. Following the completion of the sale, the insider now directly owns 31,963 shares of the company’s stock, valued at $1,807,827.28. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.11. Bristol-Myers Squibb had a return on equity of 45.49% and a net margin of 23.53%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same period in the previous year, the business earned $1.09 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, analysts forecast that Bristol-Myers Squibb Co will post 4.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Thursday, October 3rd. Bristol-Myers Squibb’s payout ratio is currently 41.21%.
Several research firms have recently issued reports on BMY. Bank of America began coverage on Bristol-Myers Squibb in a research report on Wednesday, October 16th. They set a “buy” rating and a $60.00 price objective for the company. Peel Hunt reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, October 29th. Wolfe Research set a $66.00 price objective on Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Friday, November 1st. TheStreet raised Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. Finally, UBS Group upped their price objective on Bristol-Myers Squibb from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $56.64.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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