Salem Investment Counselors Inc. Decreases Holdings in Bristol-Myers Squibb Co (NYSE:BMY)
Salem Investment Counselors Inc. lessened its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 13.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,105 shares of the biopharmaceutical company’s stock after selling 13,704 shares during the period. Salem Investment Counselors Inc.’s holdings in Bristol-Myers Squibb were worth $4,876,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of Bristol-Myers Squibb in the first quarter worth approximately $101,000. Institutional & Family Asset Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the first quarter worth approximately $106,000. Centerpoint Advisors LLC raised its position in Bristol-Myers Squibb by 373.1% during the first quarter. Centerpoint Advisors LLC now owns 1,774 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 1,399 shares in the last quarter. CSat Investment Advisory L.P. bought a new position in Bristol-Myers Squibb during the second quarter valued at approximately $113,000. Finally, Landaas & Co. WI ADV bought a new position in Bristol-Myers Squibb during the second quarter valued at approximately $131,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.
BMY has been the topic of several recent research reports. SunTrust Banks reaffirmed a “buy” rating and set a $67.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Friday. BMO Capital Markets reiterated a “hold” rating on shares of Bristol-Myers Squibb in a report on Sunday, July 22nd. Jefferies Financial Group set a $58.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Sunday, July 15th. Finally, ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $63.01.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.14. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, October 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.60 annualized dividend and a yield of 2.56%. Bristol-Myers Squibb’s dividend payout ratio is currently 53.16%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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