Princeton Capital Management Inc. grew its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 18.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,433 shares of the biopharmaceutical company’s stock after purchasing an additional 20,047 shares during the period. Bristol-Myers Squibb makes up about 4.2% of Princeton Capital Management Inc.’s investment portfolio, making the stock its 5th largest position. Princeton Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $8,378,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP increased its stake in Bristol-Myers Squibb by 10.7% during the second quarter. First Trust Advisors LP now owns 433,050 shares of the biopharmaceutical company’s stock valued at $24,130,000 after purchasing an additional 41,892 shares during the last quarter. Advisor Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 6.9% during the third quarter. Advisor Partners LLC now owns 36,961 shares of the biopharmaceutical company’s stock valued at $2,356,000 after acquiring an additional 2,382 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Bristol-Myers Squibb by 2.5% during the second quarter. Oppenheimer & Co. Inc. now owns 358,509 shares of the biopharmaceutical company’s stock valued at $19,976,000 after acquiring an additional 8,813 shares during the period. Israel Discount Bank of New York boosted its holdings in shares of Bristol-Myers Squibb by 31.8% during the second quarter. Israel Discount Bank of New York now owns 10,515 shares of the biopharmaceutical company’s stock valued at $586,000 after acquiring an additional 2,540 shares during the period. Finally, Dividend Assets Capital LLC acquired a new position in shares of Bristol-Myers Squibb during the second quarter valued at $737,000. Institutional investors own 69.74% of the company’s stock.
Bristol-Myers Squibb Co (NYSE:BMY) opened at $59.92 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46. Bristol-Myers Squibb Co has a 12 month low of $46.01 and a 12 month high of $66.10. The company has a market capitalization of $98,070.00, a price-to-earnings ratio of 23.59, a P/E/G ratio of 2.30 and a beta of 1.18.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a dividend of $0.40 per share. 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 2.67%. The ex-dividend date of this dividend is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 62.99%.
In related news, EVP Sandra Leung sold 156,582 shares of the firm’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 transaction, the executive vice president now owns 584,373 shares in the company, valued at $37,031,717.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total value of $335,172.00. Following the completion of the transaction, the executive vice president now owns 9,251 shares in the company, valued at approximately $585,033.24. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, October 13th. Jefferies Group downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 price target for the company. in a report on Monday, October 16th. BMO Capital Markets set a $49.00 price target on shares of Bristol-Myers Squibb and gave the company a “sell” rating in a report on Thursday, October 12th. Leerink Swann boosted their price objective on Bristol-Myers Squibb from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Finally, Citigroup boosted their price objective on Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $65.11.
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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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