Van Cleef Asset Management Inc Has $682,000 Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Van Cleef Asset Management Inc decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,429 shares of the biopharmaceutical company’s stock after selling 799 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Bristol-Myers Squibb were worth $682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kinsale Capital Group Inc. grew its holdings in Bristol-Myers Squibb by 31.4% during the second quarter. Kinsale Capital Group Inc. now owns 77,434 shares of the biopharmaceutical company’s stock valued at $3,216,000 after purchasing an additional 18,498 shares during the last quarter. Angeles Wealth Management LLC boosted its position in shares of Bristol-Myers Squibb by 4.5% in the second quarter. Angeles Wealth Management LLC now owns 9,195 shares of the biopharmaceutical company’s stock valued at $382,000 after acquiring an additional 392 shares during the period. MGO One Seven LLC grew its stake in shares of Bristol-Myers Squibb by 7.2% in the second quarter. MGO One Seven LLC now owns 24,427 shares of the biopharmaceutical company’s stock worth $1,014,000 after acquiring an additional 1,632 shares during the last quarter. Headlands Technologies LLC bought a new position in Bristol-Myers Squibb during the second quarter worth $4,957,000. Finally, Van Hulzen Asset Management LLC raised its stake in Bristol-Myers Squibb by 57.2% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 8,480 shares of the biopharmaceutical company’s stock valued at $352,000 after purchasing an additional 3,087 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BMY. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Barclays increased their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Stock Up 1.6 %

Shares of Bristol-Myers Squibb stock opened at $49.28 on Wednesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.42. The firm has a market cap of $99.91 billion, a PE ratio of -15.90, a P/E/G ratio of 12.62 and a beta of 0.46. The business’s 50 day simple moving average is $46.27 and its 200 day simple moving average is $46.51.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter last year, the company earned $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.87%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Bristol-Myers Squibb 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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.