Independent Franchise Partners LLP increased its position in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,539,440 shares of the biopharmaceutical company’s stock after purchasing an additional 755,208 shares during the period. Bristol-Myers Squibb makes up about 6.7% of Independent Franchise Partners LLP’s portfolio, making the stock its 2nd biggest holding. Independent Franchise Partners LLP owned approximately 0.60% of Bristol-Myers Squibb worth $801,897,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in BMY. True Wealth Design LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $26,000. Northwest Capital Management Inc bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at $26,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $31,000. Live Oak Investment Partners bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $33,000. Finally, Strengthening Families & Communities LLC raised its stake in Bristol-Myers Squibb by 90.0% in the first quarter. Strengthening Families & Communities LLC now owns 475 shares of the biopharmaceutical company’s stock valued at $656,000 after purchasing an additional 225 shares in the last quarter. 74.98% of the stock is currently owned by institutional investors.
In related news, EVP Ann Powell sold 17,986 shares of Bristol-Myers Squibb stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the completion of the transaction, the executive vice president now owns 27,868 shares of the company’s stock, valued at $1,706,915. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company’s stock.
Bristol-Myers Squibb Trading Down 4.2 %
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.24. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.96 billion. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.99 earnings per share. Analysts forecast that Bristol-Myers Squibb will post 7.56 EPS for the current year.
Bristol-Myers Squibb Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th were issued a dividend of $0.57 per share. The ex-dividend date was Thursday, October 5th. This represents a $2.28 annualized dividend and a yield of 4.68%. Bristol-Myers Squibb’s payout ratio is 57.87%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. TD Cowen dropped their target price on shares of Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating for the company in a research report on Friday, September 15th. Bank of America lowered their price objective on shares of Bristol-Myers Squibb from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, July 28th. The Goldman Sachs Group reduced their target price on Bristol-Myers Squibb from $81.00 to $69.00 and set a “buy” rating on the stock in a report on Monday, October 30th. TheStreet cut Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a report on Thursday, November 9th. Finally, Daiwa Capital Markets lowered Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $54.00 in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $63.59.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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