Argyle Capital Management Inc. Buys 750 Shares of Bristol-Myers Squibb (NYSE:BMY)

Argyle Capital Management Inc. increased its position in Bristol-Myers Squibb (NYSE:BMY) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,817 shares of the biopharmaceutical company’s stock after acquiring an additional 750 shares during the quarter. Bristol-Myers Squibb comprises about 1.3% of Argyle Capital Management Inc.’s holdings, making the stock its 26th biggest holding. Argyle Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,354,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BMY. Capital International Investors grew its position in shares of Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. Primecap Management Co. CA grew its position in Bristol-Myers Squibb by 1.0% during the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after buying an additional 225,197 shares in the last quarter. Legal & General Group Plc increased its stake in Bristol-Myers Squibb by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock worth $839,946,000 after acquiring an additional 735,613 shares during the last quarter. Independent Franchise Partners LLP boosted its position in shares of Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after acquiring an additional 556,295 shares during the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of Bristol-Myers Squibb by 15.0% during the second quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after purchasing an additional 1,840,424 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BMY shares. TD Cowen raised their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $75.00 to $55.00 in a research note on Friday. UBS Group lifted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $53.57.

Bristol-Myers Squibb Trading Down 0.1 %

Shares of NYSE BMY traded down $0.04 during mid-day trading on Tuesday, hitting $52.60. The stock had a trading volume of 1,482,011 shares, compared to its average volume of 14,461,802. The business has a 50 day moving average price of $50.82 and a two-hundred day moving average price of $46.41. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $55.03. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The firm has a market cap of $106.63 billion, a P/E ratio of -16.98, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

About Bristol-Myers Squibb

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.