Keating Investment Counselors Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.9% in the third quarter, HoldingsChannel.com reports. The firm owned 22,012 shares of the biopharmaceutical company’s stock after selling 200 shares during the period. Keating Investment Counselors Inc.’s holdings in Bristol-Myers Squibb were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the business. Ritholtz Wealth Management boosted its holdings in Bristol-Myers Squibb by 11.1% in the third quarter. Ritholtz Wealth Management now owns 10,114 shares of the biopharmaceutical company’s stock worth $610,000 after purchasing an additional 1,010 shares during the period. Fieldpoint Private Securities LLC boosted its holdings in Bristol-Myers Squibb by 12.4% in the third quarter. Fieldpoint Private Securities LLC now owns 5,056 shares of the biopharmaceutical company’s stock worth $305,000 after purchasing an additional 557 shares during the period. Ibex Wealth Advisors boosted its holdings in Bristol-Myers Squibb by 7.2% in the third quarter. Ibex Wealth Advisors now owns 91,555 shares of the biopharmaceutical company’s stock worth $5,520,000 after purchasing an additional 6,118 shares during the period. LFA Lugano Financial Advisors SA boosted its holdings in Bristol-Myers Squibb by 2.9% in the third quarter. LFA Lugano Financial Advisors SA now owns 10,784 shares of the biopharmaceutical company’s stock worth $671,000 after purchasing an additional 301 shares during the period. Finally, Boyd Watterson Asset Management LLC OH acquired a new position in Bristol-Myers Squibb in the third quarter worth $4,386,000. 72.61% of the stock is owned by hedge funds and other institutional investors.
Bristol-Myers Squibb stock traded down $0.96 during midday trading on Monday, hitting $59.17. The company’s stock had a trading volume of 255,921 shares, compared to its average volume of 13,737,522. The company has a quick ratio of 1.36, a current ratio of 1.47 and a debt-to-equity ratio of 0.85. The stock’s 50-day moving average price is $84.33 and its 200-day moving average price is $84.06. Bristol-Myers Squibb has a 12 month low of $45.76 and a 12 month high of $68.34. The company has a market capitalization of $136.06 billion, a PE ratio of -601.24, a price-to-earnings-growth ratio of 1.05 and a beta of 0.71.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 2nd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 3.04%. Bristol-Myers Squibb’s dividend payout ratio is currently 38.38%.
In related news, SVP Joseph Eid sold 5,327 shares of Bristol-Myers Squibb stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $64.00, for a total value of $340,928.00. Following the transaction, the senior vice president now owns 2,534 shares of the company’s stock, valued at approximately $162,176. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sandra Leung sold 141,420 shares of Bristol-Myers Squibb stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $63.24, for a total value of $8,943,400.80. Following the completion of the transaction, the executive vice president now directly owns 432,744 shares in the company, valued at approximately $27,366,730.56. The disclosure for this sale can be found here. Insiders sold a total of 186,587 shares of company stock worth $11,782,297 in the last three months. 0.14% of the stock is currently owned by company insiders.
A number of research firms have issued reports on BMY. Truist began coverage on Bristol-Myers Squibb in a research note on Friday. They issued a “hold” rating and a $65.00 target price on the stock. Seaport Global Securities began coverage on Bristol-Myers Squibb in a research note on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 target price on the stock. Morgan Stanley raised their target price on Bristol-Myers Squibb from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of Bristol-Myers Squibb from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. Finally, Cfra restated a “buy” rating and set a $70.00 price objective on shares of Bristol-Myers Squibb in a research note on Sunday, July 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $77.53.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products in the following therapeutic classes: hematology, oncology, cardiovascular, and immunology. The company's products include Opdivo, a biological product 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, a biological product 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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