Kore Private Wealth LLC boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,627 shares of the biopharmaceutical company’s stock after purchasing an additional 539 shares during the quarter. Kore Private Wealth LLC’s holdings in Bristol-Myers Squibb were worth $376,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Penserra Capital Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth $27,000. Horan Securities Inc. grew its holdings in shares of Bristol-Myers Squibb by 217.3% during the second quarter. Horan Securities Inc. now owns 441 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 302 shares in the last quarter. PNC Managed Account Solutions Inc. purchased a new position in Bristol-Myers Squibb in the second quarter valued at about $37,000. Regency Capital Management Inc. DE purchased a new position in Bristol-Myers Squibb in the first quarter valued at about $43,000. Finally, Cypress Point Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the second quarter valued at about $48,000. 72.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO David V. Elkins sold 99,691 shares of the firm’s stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $66.95, for a total value of $6,674,312.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Giovanni Caforio sold 25,000 shares of the stock in a transaction that occurred on Monday, September 20th. The stock was sold at an average price of $60.64, for a total transaction of $1,516,000.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Tuesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.04. Bristol-Myers Squibb had a negative net margin of 11.44% and a positive return on equity of 37.76%. The business had revenue of $11.70 billion for the quarter, compared to analysts’ expectations of $11.24 billion. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 7.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Friday, October 1st will be paid a $0.49 dividend. The ex-dividend date is Thursday, September 30th. This represents a $1.96 annualized dividend and a yield of 3.43%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 30.43%.
Several analysts have recently issued reports on BMY shares. Truist initiated coverage on Bristol-Myers Squibb in a research note on Wednesday, July 28th. They set a “buy” rating and a $74.00 price target for the company. Bank of America reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. Morgan Stanley lowered their price objective on Bristol-Myers Squibb from $71.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Truist Securities started coverage on Bristol-Myers Squibb in a research report on Wednesday, July 28th. They set a “buy” rating and a $74.00 price target on the stock. Finally, Barclays decreased their price target on Bristol-Myers Squibb from $71.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, October 8th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Buy” and an average price target of $72.42.
Bristol-Myers Squibb Company Profile
Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.
See Also: Call Option
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb (NYSE:BMY).
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.