Advisors Capital Management LLC Raises Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Advisors Capital Management LLC increased its position in Bristol Myers Squibb by 4.3%, acquiring an additional 33,874 shares, bringing its total holdings to 812,837 shares worth approximately $49.57 million.
• Bristol Myers Squibb reported $1.46 EPS for the last quarter, exceeding the analysts' expectations of $1.07, alongside a revenue of $12.27 billion.
• The biopharmaceutical company announced a quarterly dividend of $0.62 per share, translating to an annualized dividend yield of 5.3%.

Advisors Capital Management LLC increased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 812,837 shares of the biopharmaceutical company's stock after buying an additional 33,874 shares during the quarter. Advisors Capital Management LLC's holdings in Bristol Myers Squibb were worth $49,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Pinney & Scofield Inc. bought a new stake in Bristol Myers Squibb in the 4th quarter worth approximately $25,000. Park Square Financial Group LLC bought a new stake in Bristol Myers Squibb in the 4th quarter worth approximately $26,000. Global Wealth Strategies & Associates lifted its position in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb in the 1st quarter worth approximately $31,000. Finally, Accent Capital Management LLC bought a new stake in Bristol Myers Squibb in the 1st quarter worth approximately $33,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $47.15 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The company has a market cap of $95.97 billion, a PE ratio of 19.01, a P/E/G ratio of 2.42 and a beta of 0.35. The business has a 50 day moving average of $47.08 and a 200 day moving average of $50.33. 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 announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

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

Insider Activity at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the completion of the transaction, the executive vice president 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Bristol Myers Squibb 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.