Laffer Investments trimmed its position in Bristol-Myers Squibb Co (NYSE:BMY) by 6.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 50,721 shares of the biopharmaceutical company’s stock after selling 3,560 shares during the period. Bristol-Myers Squibb comprises approximately 0.9% of Laffer Investments’ holdings, making the stock its 21st largest holding. Laffer Investments’ holdings in Bristol-Myers Squibb were worth $3,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Bristol-Myers Squibb by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after purchasing an additional 333,685 shares during the last quarter. BlackRock Inc. boosted its position in shares of Bristol-Myers Squibb by 2.4% in the 2nd 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 last quarter. Dodge & Cox boosted its position in shares of Bristol-Myers Squibb by 1.6% in the 2nd quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after purchasing an additional 459,271 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Bristol-Myers Squibb by 16.2% in the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after purchasing an additional 3,735,453 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Bristol-Myers Squibb by 3.9% in the 2nd quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock worth $1,339,612,000 after purchasing an additional 910,496 shares during the last quarter. Hedge funds and other institutional investors own 69.70% of the company’s stock.

In other Bristol-Myers Squibb news, EVP Sandra Leung sold 156,582 shares of Bristol-Myers Squibb stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the transaction, the executive vice president now directly owns 584,373 shares in the company, valued at $37,031,717.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Theodore R. Samuels II bought 4,000 shares of Bristol-Myers Squibb stock in a transaction on Friday, December 15th. The shares were acquired at an average price of $62.30 per share, for a total transaction of $249,200.00. Following the completion of the acquisition, the director now owns 22,000 shares of the company’s stock, valued at approximately $1,370,600. The disclosure for this purchase can be found here. Insiders own 0.23% of the company’s stock.

Several research analysts have recently issued reports on the company. Vetr lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 price target on the stock. in a research report on Thursday. BMO Capital Markets reduced their price target on Bristol-Myers Squibb from $52.00 to $51.00 and set an “underperform” rating on the stock in a research report on Tuesday. Leerink Swann raised their price target on Bristol-Myers Squibb from $71.00 to $76.00 and gave the stock a “positive” rating in a research report on Tuesday. Zacks Investment Research lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. Finally, Credit Suisse Group set a $62.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, January 22nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $65.58.

Bristol-Myers Squibb Co (NYSE:BMY) opened at $62.69 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.46 and a current ratio of 1.59. The firm has a market capitalization of $102,506.52, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.95 and a beta of 1.09. Bristol-Myers Squibb Co has a twelve month low of $51.46 and a twelve month high of $66.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.35 billion. Bristol-Myers Squibb had a return on equity of 33.68% and a net margin of 4.85%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. equities analysts predict that Bristol-Myers Squibb Co will post 3.2 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, January 5th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, January 4th. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 2.55%. Bristol-Myers Squibb’s payout ratio is currently 271.19%.

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Bristol-Myers Squibb Profile

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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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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