Algert Global LLC Cuts Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• Algert Global LLC reduced its holdings in Bristol Myers Squibb by 88.3%, selling 91,485 shares, and now owns 12,090 shares valued at approximately $737,000.
• Several institutional investors have adjusted their positions in Bristol Myers Squibb, with Commonwealth Equity Services LLC increasing its stake by 1.1%, while Avaii Wealth Management LLC raised its investment significantly by 590.9%.
• Bristol Myers Squibb's most recent quarterly earnings surpassed consensus estimates, reporting $1.46 EPS against an expectation of $1.07, contributing to a revenue of $12.27 billion during the quarter.

Algert Global LLC lowered its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 88.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,090 shares of the biopharmaceutical company's stock after selling 91,485 shares during the period. Algert Global LLC's holdings in Bristol Myers Squibb were worth $737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake 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 buying an additional 1,458,488 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bristol Myers Squibb by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock valued at $3,696,415,000 after acquiring an additional 306,430 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares in the last quarter. Bank of New York Mellon Corp lifted 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 acquiring an additional 2,131,205 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Bristol Myers Squibb by 16.2% in the 4th quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock valued at $1,394,677,000 after acquiring an additional 3,431,248 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Daiwa America cut 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 on the stock in a research report on Friday, August 1st. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research report on Tuesday, August 5th. Finally, Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock traded down $0.79 during trading on Thursday, reaching $46.85. The company had a trading volume of 4,289,872 shares, compared to its average volume of 13,158,214. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The firm's 50-day simple moving average is $47.04 and its 200 day simple moving average is $50.90. The firm has a market capitalization of $95.35 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.36. 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 (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period last year, the firm earned $2.07 EPS. Bristol Myers Squibb's revenue for the quarter 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. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

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