8,782 Shares in Bristol-Myers Squibb Company (BMY) Acquired by Arete Wealth Advisors LLC
Arete Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb Company (NYSE:BMY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,782 shares of the biopharmaceutical company’s stock, valued at approximately $489,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Renaissance Technologies LLC grew its stake in shares of Bristol-Myers Squibb by 108.5% during the second quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after purchasing an additional 7,020,200 shares during the period. Franklin Resources Inc. grew its stake in shares of Bristol-Myers Squibb by 185.2% during the second quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after purchasing an additional 3,960,191 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Bristol-Myers Squibb by 18.7% during the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock worth $845,504,000 after purchasing an additional 2,451,390 shares during the period. BlackRock Inc. grew its stake in shares of Bristol-Myers Squibb by 2.4% during the second quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after purchasing an additional 2,367,864 shares during the period. Finally, State Street Corp grew its stake in shares of Bristol-Myers Squibb by 1.8% during the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock worth $3,746,446,000 after purchasing an additional 1,223,457 shares during the period. 69.82% of the stock is owned by institutional investors.
BMY has been the subject of a number of analyst reports. UBS reaffirmed a “buy” rating and set a $72.00 price objective (up from $62.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. Vetr raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $67.92 price objective for the company in a research note on Monday, October 9th. Zacks Investment Research cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. BMO Capital Markets reaffirmed a “sell” rating and set a $49.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 4th. Finally, Citigroup lifted their price objective on Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $64.93.
In other news, EVP Sandra Leung sold 156,582 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $63.37, for a total value of $9,922,601.34. Following the sale, the executive vice president now directly owns 584,373 shares in the company, valued at $37,031,717.01. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb Company (NYSE:BMY) opened at $62.42 on Friday. Bristol-Myers Squibb Company has a 52 week low of $46.01 and a 52 week high of $66.10. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $102,146.61, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.37 and a beta of 1.18.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. equities research analysts predict that Bristol-Myers Squibb Company will post 2.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.56%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 4th. Bristol-Myers Squibb’s payout ratio is presently 61.42%.
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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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