Alliancebernstein L.P. Sells 215,852 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Alliancebernstein L.P. has reduced its stake in Bristol Myers Squibb by 6.1%, selling 215,852 shares and now holding approximately 3.31 million shares valued at $201.79 million.
• The company plans to showcase a FY 2025 EPS guidance of 6.350-6.650, with analysts expecting an earnings per share of 6.74 for the current year.
• Bristol Myers Squibb's recent quarterly earnings reported a profit of $1.46 per share, exceeding expectations and indicating a revenue of $12.27 billion, a 0.6% year-over-year increase.

Alliancebernstein L.P. lowered its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 6.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,308,554 shares of the biopharmaceutical company's stock after selling 215,852 shares during the period. Alliancebernstein L.P. owned approximately 0.16% of Bristol Myers Squibb worth $201,789,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Marcum Wealth LLC raised its stake in shares of Bristol Myers Squibb by 1.0% in the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after purchasing an additional 193 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its stake in shares of Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after purchasing an additional 212 shares in the last quarter. 1858 Wealth Management LLC raised its stake in shares of Bristol Myers Squibb by 3.6% in the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after purchasing an additional 221 shares in the last quarter. Tompkins Financial Corp raised its stake in shares of Bristol Myers Squibb by 2.5% in the first quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock valued at $558,000 after purchasing an additional 225 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Bristol Myers Squibb by 1.3% in the first quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock valued at $1,038,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, the executive vice president owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company's stock.

Bristol Myers Squibb Trading Down 1.0%

Bristol Myers Squibb stock traded down $0.46 during mid-day trading on Monday, hitting $46.68. The stock had a trading volume of 9,995,507 shares, compared to its average volume of 13,052,685. The stock has a 50-day simple moving average of $47.09 and a two-hundred day simple moving average of $50.44. The stock has a market capitalization of $95.02 billion, a PE ratio of 18.82, a P/E/G ratio of 2.41 and a beta of 0.35. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. 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 posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter last year, the business earned $2.07 earnings per share. 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. As a group, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.3%. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Analysts Set New Price Targets

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

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.