Acropolis Investment Management LLC Trims Position in Bristol Myers Squibb Company $BMY

Key Points

• Acropolis Investment Management has reduced its holdings in Bristol Myers Squibb by 26.1%, now owning 26,462 shares valued at $1,225,000.
• The company reported $1.46 earnings per share for the last quarter, exceeding analysts' expectations of $1.07.
• Bristol Myers Squibb's dividend of $0.62 per share will be paid on November 3rd, with a yield of 5.5% and a payout ratio of 100%

Acropolis Investment Management LLC lessened its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 26.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,462 shares of the biopharmaceutical company's stock after selling 9,334 shares during the period. Acropolis Investment Management LLC's holdings in Bristol Myers Squibb were worth $1,225,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BMY. Vanguard Group Inc. boosted its holdings in shares of Bristol Myers Squibb by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock worth $11,673,669,000 after acquiring an additional 1,458,488 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Bristol Myers Squibb by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock worth $3,696,415,000 after purchasing an additional 306,430 shares during the last quarter. Bank of New York Mellon Corp increased its position in Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock valued at $1,638,501,000 after buying an additional 2,131,205 shares in the last quarter. Northern Trust Corp grew its position in Bristol Myers Squibb by 5.3% in the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company's stock worth $1,584,185,000 after purchasing an additional 1,316,144 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of 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 worth $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Down 0.1%

Bristol Myers Squibb stock traded down $0.04 during midday trading on Monday, reaching $44.98. The stock had a trading volume of 11,539,880 shares, compared to its average volume of 10,775,277. The company has a fifty day moving average price of $46.88 and a two-hundred day moving average price of $49.47. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The company has a market capitalization of $91.55 billion, a P/E ratio of 18.14, a PEG ratio of 2.30 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of the firm's 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 transaction, the executive vice president directly owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company's stock.

Analyst Ratings Changes

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

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.