Alta Wealth Advisors LLC Has $462,000 Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Alta Wealth Advisors LLC reduced its stake in Bristol Myers Squibb by 45%, now holding shares worth $462,000 after selling 8,172 shares in the second quarter.
• Company insider David V. Elkins sold 56,000 shares, decreasing his ownership by 25.07% and indicating potential concerns about the stock's performance.
• Research analysts have mixed views on Bristol Myers Squibb, with a consensus "Hold" rating and an average price target of $56.38, reflecting a cautious outlook on the stock's future performance.

Alta Wealth Advisors LLC reduced its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 45.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,979 shares of the biopharmaceutical company's stock after selling 8,172 shares during the quarter. Alta Wealth Advisors LLC's holdings in Bristol Myers Squibb were worth $462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb in the first quarter worth approximately $31,000. Accent Capital Management LLC acquired a new position in shares of Bristol Myers Squibb in the first quarter worth approximately $33,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock worth $35,000 after acquiring an additional 231 shares during the period. GKV Capital Management Co. Inc. acquired a new position in shares of Bristol Myers Squibb in the first quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in shares of Bristol Myers Squibb by 51.9% in the second quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 267 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction 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 sale, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a report on Thursday. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Bristol Myers Squibb in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Bristol Myers Squibb presently has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Trading Down 0.7%

NYSE BMY opened at $45.39 on Friday. The company has a market cap of $92.38 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.32 and a beta of 0.33. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The business has a 50 day moving average price of $46.36 and a 200-day moving average price of $48.58. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm 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 company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. Bristol Myers Squibb's payout ratio is currently 100.00%.

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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