Allstate Corp Purchases 13,357 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Allstate Corp increased its investment in Bristol Myers Squibb by 22.1%, acquiring an additional 13,357 shares during the first quarter, bringing its total holdings to 73,667 shares valued at approximately $4.49 million.
• Bristol Myers Squibb reported a strong quarterly earnings result with an EPS of $1.46, surpassing expectations, and generated $12.27 billion in revenue for the quarter.
• The company declared a quarterly dividend of $0.62 per share, maintaining a yield of 5.1%, but its payout ratio is currently at a high 100%.

Allstate Corp grew its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 22.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,667 shares of the biopharmaceutical company's stock after buying an additional 13,357 shares during the quarter. Allstate Corp's holdings in Bristol Myers Squibb were worth $4,493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. Vanguard Group Inc. lifted its holdings in Bristol Myers Squibb by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock valued at $11,673,669,000 after buying an additional 1,458,488 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bristol Myers Squibb by 0.5% in the first 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 purchasing an additional 306,430 shares during the period. Ameriprise Financial Inc. grew its stake in Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares in the last quarter. Bank of New York Mellon Corp raised its position in Bristol Myers Squibb by 8.6% during 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 purchasing an additional 2,131,205 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Bristol Myers Squibb by 5.3% during the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company's stock worth $1,584,185,000 after buying an additional 1,316,144 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Price Performance

NYSE:BMY opened at $48.38 on Friday. The firm's fifty day moving average is $47.09 and its two-hundred day moving average is $51.20. The firm has a market cap of $98.47 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 2.47 and a beta of 0.36. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping 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 firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period last year, the company earned $2.07 earnings per share. 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. Research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.1%. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of 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. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research 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 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 assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $56.38.

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.

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