Bristol Myers Squibb Company $BMY Shares Sold by Adams Asset Advisors LLC

Key Points

• Adams Asset Advisors LLC reduced its stake in Bristol Myers Squibb by 15.8%, selling 23,295 shares and retaining 124,472 shares valued at approximately $5.76 million.
• Insider selling was noted as EVP David V. Elkins sold 56,000 shares at an average price of $47.33, reducing his ownership by 25.07%.
• Bristol Myers Squibb's quarterly earnings exceeded expectations, reporting $1.46 EPS and a revenue of $12.27 billion, while setting guidance for FY 2025 EPS at 6.350-6.650.

Adams Asset Advisors LLC lessened its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 15.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,472 shares of the biopharmaceutical company's stock after selling 23,295 shares during the quarter. Adams Asset Advisors LLC's holdings in Bristol Myers Squibb were worth $5,762,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. GK Wealth Management LLC raised its stake in shares of Bristol Myers Squibb by 24.5% during the 2nd quarter. GK Wealth Management LLC now owns 4,934 shares of the biopharmaceutical company's stock worth $228,000 after acquiring an additional 972 shares in the last quarter. Wealth Alliance Advisory Group LLC increased its stake in Bristol Myers Squibb by 3.9% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 17,239 shares of the biopharmaceutical company's stock valued at $798,000 after purchasing an additional 640 shares in the last quarter. Capital Asset Advisory Services LLC increased its stake in Bristol Myers Squibb by 2.3% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 47,074 shares of the biopharmaceutical company's stock valued at $2,237,000 after purchasing an additional 1,069 shares in the last quarter. Dominguez Wealth Management Solutions Inc. increased its stake in Bristol Myers Squibb by 2.3% during the 2nd quarter. Dominguez Wealth Management Solutions Inc. now owns 21,949 shares of the biopharmaceutical company's stock valued at $1,016,000 after purchasing an additional 496 shares in the last quarter. Finally, Greenfield Savings Bank increased its stake in Bristol Myers Squibb by 6.3% during the 2nd quarter. Greenfield Savings Bank now owns 30,454 shares of the biopharmaceutical company's stock valued at $1,410,000 after purchasing an additional 1,817 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. Citigroup dropped their price objective 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. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Price Performance

NYSE:BMY traded down $0.59 during trading hours on Thursday, reaching $45.56. 18,885,304 shares of the company were exchanged, compared to its average volume of 12,973,069. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock's 50-day moving average is $47.03 and its 200-day moving average is $49.93. The firm has a market cap of $92.74 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.37 and a beta of 0.35. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33.

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 for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the 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 sale, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.

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.