Kahn Brothers Group Inc. DE continued to hold its position in Bristol-Myers Squibb Company (NYSE:BMY) during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,583 shares of the biopharmaceutical company’s stock at the close of the first quarter. Bristol-Myers Squibb makes up about 0.3% of Kahn Brothers Group Inc. DE’s portfolio, making the stock its 23rd largest holding. Kahn Brothers Group Inc. DE’s holdings in Bristol-Myers Squibb were worth $1,554,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in BMY. American National Bank grew its holdings in Bristol-Myers Squibb by 36.0% during the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 508 shares during the last quarter. Welch Investments LLC grew its holdings in Bristol-Myers Squibb by 3.9% during the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 79 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in Bristol-Myers Squibb during the first quarter valued at approximately $116,000. Blue Chip Partners Inc. grew its holdings in Bristol-Myers Squibb by 0.8% during the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 17 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Bristol-Myers Squibb by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 2,229 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 68.80% of the company’s stock.
Shares of Bristol-Myers Squibb Company (BMY) traded down 0.33% on Friday, reaching $62.48. The company had a trading volume of 10,407,558 shares. Bristol-Myers Squibb Company has a 52-week low of $46.01 and a 52-week high of $63.47. The company’s 50-day moving average price is $58.56 and its 200-day moving average price is $55.95. The firm has a market capitalization of $102.46 billion, a price-to-earnings ratio of 22.82 and a beta of 1.18. Bristol-Myers Squibb also was the recipient of some unusual options trading on Thursday. Stock investors bought 781 put options on the company. This is an increase of 117% compared to the average volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts predict that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.50%. Bristol-Myers Squibb’s payout ratio is 56.73%.
In related news, Director Theodore R. Samuels II bought 6,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the transaction, the director now owns 18,000 shares in the company, valued at approximately $1,006,920. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Joseph C. Caldarella sold 9,340 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
Several brokerages have commented on BMY. Hilliard Lyons downgraded Bristol-Myers Squibb from a “long-term buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a report on Tuesday. Jefferies Group LLC increased their price target on Bristol-Myers Squibb from $66.00 to $72.00 and gave the company a “buy” rating in a report on Monday. Credit Suisse Group reiterated a “hold” rating on shares of Bristol-Myers Squibb in a report on Friday, September 8th. Vetr downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $64.20 price target on the stock. in a report on Thursday, September 7th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $65.00 price target (up previously from $62.00) on shares of Bristol-Myers Squibb in a report on Thursday, September 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $62.66.
About Bristol-Myers Squibb
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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