Bristol Myers Squibb Company $BMY Shares Sold by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC has reduced its holdings in Bristol Myers Squibb by 48.7%, now owning 96,578 shares valued at approximately $5.89 million.
• Analysts have downgraded Bristol Myers Squibb from "outperform" to "neutral," with an average target price of $56.38, reflecting a cautious outlook on the stock.
• Bristol Myers Squibb reported better-than-expected quarterly earnings of $1.46 per share on revenues of $12.27 billion, beating analyst estimates significantly.

Belpointe Asset Management LLC lowered its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 48.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,578 shares of the biopharmaceutical company's stock after selling 91,863 shares during the quarter. Belpointe Asset Management LLC's holdings in Bristol Myers Squibb were worth $5,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BMY. Brighton Jones LLC boosted its position in Bristol Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after acquiring an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Bristol Myers Squibb during the 4th quarter valued at $13,094,000. Focus Partners Wealth boosted its position in Bristol Myers Squibb by 18.8% during the 4th quarter. Focus Partners Wealth now owns 217,570 shares of the biopharmaceutical company's stock valued at $12,807,000 after acquiring an additional 34,466 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its position in Bristol Myers Squibb by 5.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 44,911 shares of the biopharmaceutical company's stock valued at $2,540,000 after acquiring an additional 2,269 shares in the last quarter. Finally, Morse Asset Management Inc boosted its position in Bristol Myers Squibb by 562.9% during the 4th quarter. Morse Asset Management Inc now owns 66,292 shares of the biopharmaceutical company's stock valued at $3,749,000 after acquiring an additional 56,292 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

BMY stock traded down $1.32 during midday trading on Friday, reaching $46.22. The stock had a trading volume of 11,892,193 shares, compared to its average volume of 9,078,454. The stock has a market cap of $94.08 billion, a PE ratio of 18.64, a P/E/G ratio of 2.43 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The firm has a fifty day simple moving average of $47.08 and a two-hundred day simple moving average of $50.13. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its 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 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. During the same quarter last year, the business posted $2.07 EPS. The firm's quarterly revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is currently 100.00%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BMY. Daiwa Capital Markets cut 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. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Citigroup lowered their price objective 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. Finally, Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and a consensus target price 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.