Abacus FCF Advisors LLC Buys 73,911 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Abacus FCF Advisors LLC has increased its stake in Bristol Myers Squibb (NYSE:BMY) by 25.4%, acquiring an additional 73,911 shares to reach a total of 365,410 shares, valued at approximately $16.9 million.
• During the same period, various institutional investors, including Vanguard Group and Charles Schwab Investment Management, also raised their holdings in Bristol Myers Squibb.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share, resulting in an annualized yield of 5.5%, with the payment date set for November 3rd.

Abacus FCF Advisors LLC lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 25.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 365,410 shares of the biopharmaceutical company's stock after buying an additional 73,911 shares during the period. Bristol Myers Squibb comprises 2.4% of Abacus FCF Advisors LLC's holdings, making the stock its 15th largest position. Abacus FCF Advisors LLC's holdings in Bristol Myers Squibb were worth $16,915,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares during the last quarter. GQG Partners LLC lifted its stake in Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock valued at $733,310,000 after purchasing an additional 11,970,598 shares during the last quarter. Nuveen LLC acquired a new stake in Bristol Myers Squibb in the 1st quarter valued at about $624,369,000. GAMMA Investing LLC lifted its stake in Bristol Myers Squibb by 7,142.8% in the 1st quarter. GAMMA Investing LLC now owns 2,420,388 shares of the biopharmaceutical company's stock valued at $147,619,000 after purchasing an additional 2,386,970 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Bristol Myers Squibb in the 2nd quarter valued at about $98,898,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the transaction, the executive vice president directly owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on BMY shares. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Citigroup lowered their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Finally, Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Price Performance

NYSE BMY traded up $0.02 on Tuesday, hitting $45.00. The stock had a trading volume of 6,269,155 shares, compared to its average volume of 13,011,373. The firm has a 50-day moving average of $46.88 and a 200-day moving average of $49.47. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The company has a market capitalization of $91.58 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.30 and a beta of 0.35. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the firm earned $2.07 EPS. The firm's quarterly revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.5%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Bristol Myers Squibb Company 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.