Cascade Investment Advisors Inc. lessened its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 25,470 shares of the biopharmaceutical company’s stock after selling 765 shares during the quarter. Bristol-Myers Squibb comprises approximately 1.4% of Cascade Investment Advisors Inc.’s holdings, making the stock its 10th largest position. Cascade Investment Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $1,498,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BMY. Orser Capital Management LLC boosted its position in Bristol-Myers Squibb by 78.9% during the 4th quarter. Orser Capital Management LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $319,000 after acquiring an additional 2,210 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $238,000. Thrivent Financial for Lutherans boosted its position in Bristol-Myers Squibb by 42.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 123,432 shares of the biopharmaceutical company’s stock worth $7,922,000 after acquiring an additional 36,977 shares during the period. Level Four Advisory Services LLC boosted its position in Bristol-Myers Squibb by 45.4% during the 4th quarter. Level Four Advisory Services LLC now owns 30,322 shares of the biopharmaceutical company’s stock worth $1,949,000 after acquiring an additional 9,468 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Bristol-Myers Squibb by 6.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,501,887 shares of the biopharmaceutical company’s stock worth $96,408,000 after acquiring an additional 92,854 shares during the period. Institutional investors own 74.20% of the company’s stock.
NYSE:BMY opened at $57.89 on Wednesday. The firm has a market capitalization of $130.67 billion, a price-to-earnings ratio of 71.47, a PEG ratio of 1.11 and a beta of 0.73. Bristol-Myers Squibb Co has a 1-year low of $42.48 and a 1-year high of $68.34. The company has a current ratio of 1.66, a quick ratio of 1.51 and a debt-to-equity ratio of 0.86. The business’s fifty day moving average price is $58.68 and its 200 day moving average price is $60.56.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.11%. The ex-dividend date is Thursday, July 2nd. Bristol-Myers Squibb’s payout ratio is 38.38%.
In other Bristol-Myers Squibb news, EVP Louis S. Schmukler sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total value of $1,567,000.00. Following the transaction, the executive vice president now directly owns 26,777 shares of the company’s stock, valued at approximately $1,678,382.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dinesh C. Paliwal bought 9,174 shares of the company’s stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $54.50 per share, for a total transaction of $499,983.00. Following the completion of the transaction, the director now owns 22,109 shares in the company, valued at $1,204,940.50. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by insiders.
Several analysts have recently weighed in on the company. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Monday, March 23rd. ValuEngine lowered Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Monday, June 1st. William Blair restated a “buy” rating on shares of Bristol-Myers Squibb in a report on Monday, June 1st. Morgan Stanley upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and set a $64.00 price objective for the company in a report on Thursday, April 2nd. Finally, Cantor Fitzgerald upped their price objective on Bristol-Myers Squibb from $68.00 to $88.00 in a report on Tuesday, June 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. Bristol-Myers Squibb has a consensus rating of “Buy” and an average price target of $68.00.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. 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 moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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