Arnhold LLC Has $24.03 Million Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Arnhold LLC reduced its stock holdings in Bristol Myers Squibb Company by 9.5% during the 1st quarter, now owning approximately 393,996 shares valued at around $24 million.
• Bristol Myers Squibb reported earnings of $1.46 per share for the latest quarter, surpassing estimates by $0.39, with revenues of $12.27 billion.
• The company recently announced a $0.62 quarterly dividend, representing an annual yield of 5.1% with a payout ratio of 100%.

Arnhold LLC reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 9.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 393,996 shares of the biopharmaceutical company's stock after selling 41,310 shares during the quarter. Bristol Myers Squibb comprises 2.4% of Arnhold LLC's portfolio, making the stock its 9th biggest position. Arnhold LLC's holdings in Bristol Myers Squibb were worth $24,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Bristol Myers Squibb by 0.8% in the first 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 during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Bristol Myers Squibb by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock worth $3,696,415,000 after acquiring an additional 306,430 shares during the period. Ameriprise Financial Inc. grew its position in shares of 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 valued at $1,814,341,000 after purchasing an additional 12,011,983 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after purchasing an additional 2,131,205 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Bristol Myers Squibb by 5.3% in the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company's stock valued at $1,584,185,000 after acquiring an additional 1,316,144 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. 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 report on Friday, August 1st. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Stock Down 1.6%

BMY stock traded down $0.77 during midday trading on Monday, hitting $47.15. The company's stock had a trading volume of 10,857,970 shares, compared to its average volume of 13,248,518. The firm has a market capitalization of $95.97 billion, a P/E ratio of 19.01, a PEG ratio of 2.45 and a beta of 0.36. The firm has a 50-day simple moving average of $47.06 and a 200-day simple moving average of $51.01. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. 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 issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period in the previous year, the business posted $2.07 earnings per share. The business's 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, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

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.