Meridian Wealth Management LLC Acquires Shares of 15,437 Bristol-Myers Squibb Company (NYSE:BMY)
Meridian Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) during the first quarter, Holdings Channel reports. The institutional investor acquired 15,437 shares of the biopharmaceutical company’s stock, valued at approximately $839,000.
Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Bristol-Myers Squibb by 1.8% in the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after buying an additional 1,223,457 shares during the period. Jennison Associates LLC increased its stake in Bristol-Myers Squibb by 0.8% in the first quarter. Jennison Associates LLC now owns 21,927,898 shares of the biopharmaceutical company’s stock valued at $1,192,439,000 after buying an additional 178,436 shares during the period. Ameriprise Financial Inc. increased its stake in Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after buying an additional 2,451,390 shares during the period. Legal & General Group Plc increased its stake in Bristol-Myers Squibb by 4.3% in the first quarter. Legal & General Group Plc now owns 8,213,428 shares of the biopharmaceutical company’s stock valued at $446,664,000 after buying an additional 335,795 shares during the period. Finally, Swiss National Bank increased its stake in Bristol-Myers Squibb by 27.2% in the first quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock valued at $322,020,000 after buying an additional 1,267,900 shares during the period. 69.68% of the stock is currently owned by institutional investors.
Bristol-Myers Squibb Company (NYSE BMY) traded up 0.58% on Monday, hitting $57.06. The stock had a trading volume of 841,673 shares. Bristol-Myers Squibb Company has a 52-week low of $46.01 and a 52-week high of $61.30. The company has a market cap of $93.57 billion, a P/E ratio of 20.84 and a beta of 1.17. The stock’s 50-day moving average is $55.80 and its 200-day moving average is $54.64.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts expect that Bristol-Myers Squibb Company will post $2.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s payout ratio is 56.73%.
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Several equities research analysts recently weighed in on BMY shares. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $62.23 price objective on the stock in a report on Wednesday, July 12th. BMO Capital Markets reissued a “market perform” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Sunday, April 23rd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday, August 9th. BidaskClub raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Leerink Swann cut their price objective on Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $62.12.
In other news, Director Theodore R. Samuels II purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the acquisition, the director now directly owns 18,000 shares in the company, valued at approximately $1,006,920. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb Company 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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