Bristol-Myers Squibb Co. (BMY) Position Decreased by Assetmark Inc.
Assetmark Inc. cut its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 8.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,938 shares of the biopharmaceutical company’s stock after selling 283 shares during the period. Assetmark Inc.’s holdings in Bristol-Myers Squibb were worth $216,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Jolley Asset Management LLC boosted its position in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol-Myers Squibb during the second quarter worth $163,000. Solaris Asset Management LLC boosted its position in shares of Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 75 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in shares of Bristol-Myers Squibb by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,353 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 12 shares in the last quarter. Finally, Madrona Financial Services LLC purchased a new position in shares of Bristol-Myers Squibb during the second quarter worth $200,000. 72.95% of the stock is currently owned by hedge funds and other institutional investors.
Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.94% on Monday, hitting $55.08. The stock had a trading volume of 10,514,546 shares. Bristol-Myers Squibb Co. has a 52-week low of $55.02 and a 52-week high of $77.12. The company has a 50-day moving average price of $62.43 and a 200 day moving average price of $67.98. The firm has a market cap of $92.03 billion, a PE ratio of 32.21 and a beta of 0.61.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts forecast that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.76%. Bristol-Myers Squibb’s payout ratio is 87.36%.
BMY has been the topic of a number of research reports. Credit Suisse Group AG cut Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $86.00 to $63.00 in a report on Sunday, August 7th. Morgan Stanley reissued a “hold” rating on shares of Bristol-Myers Squibb in a report on Thursday, August 25th. Jefferies Group reissued a “hold” rating and set a $57.00 price objective (down from $69.00) on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.23 price target on the stock in a research note on Tuesday, August 9th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $69.91.
In other news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $74.45, for a total value of $1,727,240.00. Following the sale, the director now directly owns 380,099 shares in the company, valued at $28,298,370.55. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is owned by insiders.
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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