Livingston Group Asset Management CO operating as Southport Capital Management lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,200 shares of the biopharmaceutical company’s stock after selling 1,196 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Bristol-Myers Squibb were worth $509,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Two Sigma Advisers LP increased its holdings in shares of Bristol-Myers Squibb by 219.2% in the second quarter. Two Sigma Advisers LP now owns 3,767,731 shares of the biopharmaceutical company’s stock worth $221,543,000 after acquiring an additional 2,587,299 shares in the last quarter. AustralianSuper Pty Ltd grew its holdings in shares of Bristol-Myers Squibb by 115.8% during the third quarter. AustralianSuper Pty Ltd now owns 2,463,301 shares of the biopharmaceutical company’s stock worth $148,512,000 after buying an additional 1,321,614 shares in the last quarter. Federated Hermes Inc. boosted its position in Bristol-Myers Squibb by 44.2% during the third quarter. Federated Hermes Inc. now owns 3,662,000 shares of the biopharmaceutical company’s stock valued at $220,782,000 after purchasing an additional 1,122,287 shares during the last quarter. Polar Capital LLP lifted its position in shares of Bristol-Myers Squibb by 464.9% in the third quarter. Polar Capital LLP now owns 1,256,451 shares of the biopharmaceutical company’s stock valued at $75,751,000 after buying an additional 1,034,045 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Bristol-Myers Squibb by 73.9% in the third quarter. Van ECK Associates Corp now owns 1,826,616 shares of the biopharmaceutical company’s stock valued at $110,126,000 after buying an additional 776,505 shares during the last quarter. Institutional investors and hedge funds own 72.41% of the company’s stock.
Several equities analysts have recently issued reports on the company. Berenberg Bank began coverage on Bristol-Myers Squibb in a research note on Tuesday, September 29th. They issued a “buy” rating and a $73.00 price target on the stock. BidaskClub downgraded Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 10th. Sanford C. Bernstein reissued a “market perform” rating and issued a $72.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, November 10th. JPMorgan Chase & Co. boosted their target price on Bristol-Myers Squibb from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. Finally, Gabelli downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Friday, November 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Bristol-Myers Squibb currently has an average rating of “Buy” and a consensus price target of $73.75.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Tuesday, November 10th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.14. Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the firm earned $1.17 EPS. The firm’s revenue for the quarter was up 75.5% compared to the same quarter last year. Analysts forecast that Bristol-Myers Squibb will post 6.35 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 4th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, December 31st. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.03%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.79%.
In other news, EVP Rupert Vessey sold 57,591 shares of Bristol-Myers Squibb stock in a transaction on Thursday, November 19th. The shares were sold at an average price of $61.30, for a total transaction of $3,530,328.30. Following the completion of the sale, the executive vice president now directly owns 46,142 shares in the company, valued at $2,828,504.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Adam Dubow sold 900 shares of Bristol-Myers Squibb stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $63.39, for a total transaction of $57,051.00. Following the sale, the senior vice president now owns 15,186 shares of the company’s stock, valued at $962,640.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,915 shares of company stock worth $4,410,814. Corporate insiders own 0.14% of the company’s stock.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. The company's products include Opdivo for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia for adult patients with active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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