Charles Schwab Investment Management Inc. grew its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 3.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,030,403 shares of the biopharmaceutical company's stock after buying an additional 1,968,729 shares during the period. Charles Schwab Investment Management Inc. owned approximately 3.01% of Bristol-Myers Squibb worth $3,157,713,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA lifted its position in shares of Bristol-Myers Squibb by 1.0% during the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company's stock worth $975,897,000 after purchasing an additional 225,197 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Bristol-Myers Squibb by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company's stock worth $839,946,000 after purchasing an additional 735,613 shares during the last quarter. Independent Franchise Partners LLP lifted its position in shares of Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company's stock worth $606,364,000 after purchasing an additional 556,295 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Bristol-Myers Squibb by 0.5% during the 3rd quarter. Pzena Investment Management LLC now owns 14,201,746 shares of the biopharmaceutical company's stock worth $734,798,000 after purchasing an additional 67,409 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company's stock worth $680,469,000 after purchasing an additional 5,461,767 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.
Bristol-Myers Squibb Price Performance
NYSE:BMY traded up $0.34 during mid-day trading on Thursday, reaching $58.22. The stock had a trading volume of 5,462,640 shares, compared to its average volume of 14,395,333. The stock has a 50-day simple moving average of $53.46 and a two-hundred day simple moving average of $47.61. The stock has a market capitalization of $118.08 billion, a PE ratio of -16.22, a P/E/G ratio of 15.62 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08.
Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analysts' expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 earnings per share. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.
Bristol-Myers Squibb Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.12%. Bristol-Myers Squibb's payout ratio is presently -66.85%.
Insiders Place Their Bets
In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on BMY. Daiwa America raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 13th. Daiwa Capital Markets raised Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 13th. Citigroup upped their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, UBS Group upped their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $54.07.
Get Our Latest Stock Analysis on Bristol-Myers Squibb
About Bristol-Myers Squibb
(
Free Report)
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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