Larson Financial Group LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 20.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,442 shares of the biopharmaceutical company’s stock after selling 873 shares during the quarter. Larson Financial Group LLC’s holdings in Bristol-Myers Squibb were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMY. Horan Securities Inc. raised its position in Bristol-Myers Squibb by 217.3% during the second quarter. Horan Securities Inc. now owns 441 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 302 shares in the last quarter. PNC Managed Account Solutions Inc. acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at $37,000. Regency Capital Management Inc. DE acquired a new position in shares of Bristol-Myers Squibb in the first quarter valued at $43,000. Cypress Point Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at $48,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the first quarter valued at $55,000. 72.10% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on BMY shares. Morgan Stanley upped their price objective on shares of Bristol-Myers Squibb from $62.00 to $71.00 and gave the company an “equal weight” rating in a report on Thursday, July 29th. Truist started coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. They issued a “buy” rating and a $74.00 price target on the stock. Truist Securities started coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. They issued a “buy” rating and a $74.00 price target on the stock. Finally, Bank of America restated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $73.83.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Tuesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. The firm had revenue of $11.70 billion during the quarter, compared to analysts’ expectations of $11.24 billion. Bristol-Myers Squibb had a negative net margin of 11.44% and a positive return on equity of 37.76%. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 7.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 1st will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.15%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 30.43%.
In related news, CFO David V. Elkins sold 99,691 shares of the firm’s stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $66.95, for a total value of $6,674,312.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by company insiders.
Bristol-Myers Squibb Company Profile
Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.
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