Birmingham Capital Management Co. Inc. AL Reduces Stake in Bristol Myers Squibb Company $BMY

Key Points

• Birmingham Capital Management Co. Inc. AL reduced its stake in Bristol Myers Squibb by 15.2%, now holding 36,361 shares valued at approximately $1.68 million after selling 6,530 shares in the second quarter.
• Bristol Myers Squibb reported $1.46 EPS for the quarter, surpassing estimates, with revenues of $12.27 billion, reflecting a 0.6% increase year-over-year.
• The company declared a quarterly dividend of $0.62 per share, representing a yield of 5.7%, with a payout ratio of 100%.

Birmingham Capital Management Co. Inc. AL decreased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 15.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 36,361 shares of the biopharmaceutical company's stock after selling 6,530 shares during the period. Birmingham Capital Management Co. Inc. AL's holdings in Bristol Myers Squibb were worth $1,683,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BMY. Trifecta Capital Advisors LLC purchased a new stake in Bristol Myers Squibb during the 2nd quarter worth about $25,000. REAP Financial Group LLC raised its holdings in shares of Bristol Myers Squibb by 202.8% in the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 428 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at about $31,000. Accent Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at about $33,000. Finally, CBIZ Investment Advisory Services LLC raised its holdings in shares of Bristol Myers Squibb by 66.0% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $43.63 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $88.80 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 2.27 and a beta of 0.33. The business's 50-day moving average price is $46.07 and its 200-day moving average price is $47.40. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period last year, the company earned $2.07 EPS. Bristol Myers Squibb's revenue for the quarter 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. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Insider Transactions at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on BMY shares. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a report on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Dbs Bank raised Bristol Myers Squibb to a "moderate buy" rating in a report on Thursday, October 2nd. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $57.23.

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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