Financial Architects Inc cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,122 shares of the biopharmaceutical company’s stock after selling 857 shares during the period. Financial Architects Inc’s holdings in Bristol-Myers Squibb were worth $455,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Bristol-Myers Squibb by 86,002.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 659,143,253 shares of the biopharmaceutical company’s stock valued at $42,152,211,000 after buying an additional 658,377,716 shares in the last quarter. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $1,873,696,000. Moneta Group Investment Advisors LLC raised its position in shares of Bristol-Myers Squibb by 114,228.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after buying an additional 21,451,006 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Bristol-Myers Squibb by 193.4% in the first quarter. Envestnet Asset Management Inc. now owns 7,214,000 shares of the biopharmaceutical company’s stock valued at $186,351,000 after buying an additional 4,755,058 shares in the last quarter. Finally, Boston Partners raised its position in shares of Bristol-Myers Squibb by 31.1% in the first quarter. Boston Partners now owns 18,080,568 shares of the biopharmaceutical company’s stock valued at $1,252,480,000 after buying an additional 4,286,479 shares in the last quarter. 74.98% of the stock is currently owned by institutional investors and hedge funds.
Bristol-Myers Squibb Stock Up 0.7 %
Shares of Bristol-Myers Squibb stock opened at $50.53 on Wednesday. The stock’s 50-day moving average is $56.14 and its 200 day moving average is $61.20. Bristol-Myers Squibb has a one year low of $49.49 and a one year high of $81.43. The firm has a market cap of $102.81 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.57 and a beta of 0.38. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.18 and a quick ratio of 1.07.
Bristol-Myers Squibb Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.28 annualized dividend and a dividend yield of 4.51%. Bristol-Myers Squibb’s dividend payout ratio is presently 57.87%.
Insider Buying and Selling
In other news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the completion of the sale, the executive vice president now owns 27,868 shares in the company, valued at $1,706,915. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
BMY has been the subject of several research analyst reports. Atlantic Securities lowered their price objective on shares of Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, July 28th. Morgan Stanley lowered their price objective on shares of Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, October 27th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 27th. Cantor Fitzgerald cut shares of Bristol-Myers Squibb from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $55.00 in a research note on Wednesday. Finally, HSBC raised shares of Bristol-Myers Squibb from a “reduce” rating to a “hold” rating and decreased their target price for the stock from $55.00 to $53.00 in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.59.
Bristol-Myers Squibb Company Profile
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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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