AlphaQuest LLC Sells 14,132 Shares of Bristol Myers Squibb Company $BMY

Key Points

• AlphaQuest LLC has significantly reduced its stake in Bristol Myers Squibb by 75.4%, now holding only 4,619 shares valued at $282,000 after selling 14,132 shares in the first quarter.
• Despite AlphaQuest's reduction, other institutional investors, including Wellington Management, have increased their holdings significantly, with Wellington boosting its stake by 297.0% during the same period.
• Bristol Myers Squibb reported a strong quarterly performance, beating earnings estimates with $1.46 EPS and revenue of $12.27 billion, while also announcing a $0.62 quarterly dividend with a yield of 5.3%.

AlphaQuest LLC reduced its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 75.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,619 shares of the biopharmaceutical company's stock after selling 14,132 shares during the period. AlphaQuest LLC's holdings in Bristol Myers Squibb were worth $282,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Marcum Wealth LLC raised its position in Bristol Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after buying an additional 193 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its position in Bristol Myers Squibb by 2.7% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after buying an additional 212 shares during the last quarter. 1858 Wealth Management LLC raised its position in Bristol Myers Squibb by 3.6% in the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after buying an additional 221 shares during the last quarter. Tompkins Financial Corp raised its position in Bristol Myers Squibb by 2.5% in the 1st quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock valued at $558,000 after buying an additional 225 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in Bristol Myers Squibb by 1.3% in the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock valued at $1,038,000 after buying an additional 225 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock traded up $0.29 during trading hours on Friday, hitting $47.17. 10,685,502 shares of the company's stock traded hands, compared to its average volume of 10,338,380. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The stock has a market capitalization of $96.01 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.41 and a beta of 0.35. The company has a fifty day simple moving average of $47.05 and a 200-day simple moving average of $50.74. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share 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 company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on BMY. Citigroup lowered their price target 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 reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. One 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 given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $56.38.

About Bristol Myers Squibb

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.