AM Investment Strategies LLC Reduces Position in Bristol Myers Squibb Company $BMY

Key Points

• AM Investment Strategies LLC has reduced its holdings in Bristol Myers Squibb Company by 80.4%, dropping to 16,904 shares after selling 69,156 shares during the 2nd quarter.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, significantly exceeding analysts' expectations and generating revenue of $12.27 billion.
• The company declared a quarterly dividend of $0.62, with a dividend yield of 5.5%, set to be paid on November 3rd to stockholders of record as of October 3rd.

AM Investment Strategies LLC cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 80.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,904 shares of the biopharmaceutical company's stock after selling 69,156 shares during the quarter. AM Investment Strategies LLC's holdings in Bristol Myers Squibb were worth $782,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb during the fourth quarter valued at about $26,000. Global Wealth Strategies & Associates lifted its holdings in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb in the first quarter valued at approximately $31,000. Accent Capital Management LLC bought a new position in shares of Bristol Myers Squibb in the first quarter valued at approximately $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its position 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 valued at $35,000 after acquiring an additional 231 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Down 0.3%

Shares of Bristol Myers Squibb stock opened at $44.84 on Wednesday. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33. The firm has a market cap of $91.26 billion, a PE ratio of 18.08, a PEG ratio of 2.30 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a 50 day simple moving average of $46.85 and a two-hundred day simple moving average of $49.44.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its 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. The business had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. 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 firm 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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's payout ratio is presently 100.00%.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Citigroup cut their price objective 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. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research report on Tuesday, August 5th. Finally, Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. One 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.

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