Belpointe Asset Management LLC Sells 24,163 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Belpointe Asset Management LLC sold 24,163 shares of Bristol Myers Squibb, reducing its stake by 25.0% to 72,415 shares, valued at approximately $3,352,000.
• Institutional investors now hold 76.41% of Bristol Myers Squibb's stock, with significant stakes being increased by firms such as Wellington Management Group and GQG Partners.
• Bristol Myers Squibb reported a quarterly earnings of $1.46 per share, exceeding expectations, with revenues of $12.27 billion, and set its FY 2025 EPS guidance at 6.350 to 6.650.

Belpointe Asset Management LLC trimmed its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 25.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,415 shares of the biopharmaceutical company's stock after selling 24,163 shares during the quarter. Belpointe Asset Management LLC's holdings in Bristol Myers Squibb were worth $3,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of BMY. Wellington Management Group LLP raised its stake in shares of Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares in the last quarter. GQG Partners LLC grew its stake in Bristol Myers Squibb by 22,647.6% during the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after buying an additional 11,970,598 shares during the last quarter. Nuveen LLC bought a new stake in Bristol Myers Squibb during the first quarter worth about $624,369,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Bristol Myers Squibb in the second quarter valued at approximately $98,898,000. Finally, 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 acquiring an additional 2,131,205 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BMY shares. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. 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 note on Friday, August 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. Finally, Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $56.38.

Insider Buying and Selling

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 of the company's stock, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Bristol Myers Squibb Stock Down 0.7%

NYSE:BMY opened at $45.39 on Monday. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The firm has a market capitalization of $92.38 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.32 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The stock's 50 day moving average price is $46.36 and its two-hundred day moving average price is $48.49.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released 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. The company had revenue of $12.27 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.5%. Bristol Myers Squibb's dividend payout ratio (DPR) is 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.

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