Trustco Bank Corp N Y reduced its position in Bristol-Myers Squibb Co (NYSE:BMY) by 36.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,144 shares of the biopharmaceutical company’s stock after selling 6,400 shares during the quarter. Trustco Bank Corp N Y’s holdings in Bristol-Myers Squibb were worth $656,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. JCIC Asset Management Inc. bought a new position in Bristol-Myers Squibb in the first quarter worth $25,000. Perennial Advisors LLC bought a new position in Bristol-Myers Squibb in the first quarter worth $27,000. CVA Family Office LLC bought a new position in Bristol-Myers Squibb in the first quarter worth $28,000. MBE Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter valued at $41,000. Finally, AlphaCore Capital LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter valued at $49,000. 74.20% of the stock is owned by hedge funds and other institutional investors.
BMY stock traded up $1.31 during midday trading on Wednesday, reaching $63.13. The stock had a trading volume of 20,736,000 shares, compared to its average volume of 15,159,862. The business has a fifty day simple moving average of $59.00 and a two-hundred day simple moving average of $59.81. 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 firm has a market cap of $139.88 billion, a price-to-earnings ratio of -631.24, a PEG ratio of 1.15 and a beta of 0.72. Bristol-Myers Squibb Co has a twelve month low of $45.32 and a twelve month high of $68.34.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Monday, July 6th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.85%. 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 firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the transaction, the executive vice president now owns 26,777 shares in the company, valued at $1,678,382.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Adam Dubow sold 3,200 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $61.01, for a total value of $195,232.00. Following the transaction, the senior vice president now owns 16,086 shares in the company, valued at approximately $981,406.86. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.
A number of research analysts have issued reports on the company. Cantor Fitzgerald lifted their price objective on Bristol-Myers Squibb from $68.00 to $88.00 in a report on Tuesday, June 2nd. Seaport Global Securities assumed coverage on Bristol-Myers Squibb in a report on Tuesday, July 28th. They set an “outperform” rating and a $75.00 price objective for the company. Morgan Stanley lifted their price objective on Bristol-Myers Squibb from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 target price for the company. Finally, Cfra restated a “buy” rating and issued a $70.00 target price on shares of Bristol-Myers Squibb in a research note on Sunday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Bristol-Myers Squibb has a consensus rating of “Buy” and a consensus price target of $69.07.
Bristol-Myers Squibb Profile
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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