Mon Sep 23 17:36:44 UTC 2024: ## Frank Rimerman Advisors LLC Significantly Increases Stake in Bristol-Myers Squibb
**New York, NY** – Frank Rimerman Advisors LLC significantly boosted its holdings in Bristol-Myers Squibb (NYSE: BMY) during the second quarter, according to a recent filing with the Securities and Exchange Commission. The fund increased its stake by a staggering 37,238.4%, acquiring an additional 41,707 shares, bringing their total holdings to 41,819 shares. This investment represents a value of $1,737,000 as of the end of the reporting period.
This significant increase in holdings follows a trend of other institutional investors adjusting their stakes in the biopharmaceutical company. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the first quarter, valued at approximately $27,000. LGT Financial Advisors LLC also increased its holdings in the company during the second quarter by 42.7%, bringing their total ownership to 759 shares worth $32,000. Other notable new investors in the second quarter include MFA Wealth Advisors LLC, Fairman Group LLC, and Beach Investment Counsel Inc. PA.
Overall, hedge funds and institutional investors own 76.41% of Bristol-Myers Squibb’s stock, signaling strong confidence in the company’s future prospects.
Bristol-Myers Squibb’s stock opened at $49.41 on Monday, with a market cap of $100.16 billion. The company has a PE ratio of -15.94, a P/E/G ratio of 12.59, and a beta of 0.46.
The company recently declared a quarterly dividend of $0.60 per share, payable on November 1st to investors of record on October 4th. This represents an annualized dividend of $2.40 and a yield of 4.86%.
Analysts remain divided on the company’s outlook. While some, like StockNews.com, have upgraded their rating to “strong-buy,” others like Barclays have maintained an “underweight” rating. Overall, the consensus rating from MarketBeat.com is “Hold,” with a consensus price target of $55.00.
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