High Net Worth Advisory Group LLC Sells 5,435 Shares of Bristol Myers Squibb Company $BMY

Key Points

• High Net Worth Advisory Group LLC has reduced its holdings in Bristol Myers Squibb by 31.5%, now owning 11,841 shares valued at $548,000.
• Significant insider activity includes EVP David V. Elkins selling 56,000 shares, decreasing his ownership by 25.07%.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share, paid to stockholders on November 3rd, representing an annualized yield of 5.4%.

High Net Worth Advisory Group LLC cut its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 31.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,841 shares of the biopharmaceutical company's stock after selling 5,435 shares during the quarter. High Net Worth Advisory Group LLC's holdings in Bristol Myers Squibb were worth $548,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Wedmont Private Capital boosted its position in shares of Bristol Myers Squibb by 27.1% during the second quarter. Wedmont Private Capital now owns 14,436 shares of the biopharmaceutical company's stock valued at $688,000 after buying an additional 3,074 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its position in shares of Bristol Myers Squibb by 101.3% during the second quarter. Baader Bank Aktiengesellschaft now owns 13,815 shares of the biopharmaceutical company's stock valued at $639,000 after buying an additional 6,951 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Bristol Myers Squibb by 6.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 289,500 shares of the biopharmaceutical company's stock valued at $13,401,000 after buying an additional 18,398 shares during the last quarter. KMG Fiduciary Partners LLC boosted its position in Bristol Myers Squibb by 5.0% in the second quarter. KMG Fiduciary Partners LLC now owns 41,364 shares of the biopharmaceutical company's stock worth $1,915,000 after purchasing an additional 1,961 shares during the last quarter. Finally, Focus Financial Network Inc. boosted its position in Bristol Myers Squibb by 18.4% in the second quarter. Focus Financial Network Inc. now owns 4,815 shares of the biopharmaceutical company's stock worth $223,000 after purchasing an additional 747 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on BMY shares. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Citigroup dropped their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. 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 assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $56.38.

Insider Transactions at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.07% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY stock traded down $0.04 during trading hours on Monday, reaching $44.98. 11,539,880 shares of the company traded hands, compared to its average volume of 10,775,277. The firm has a 50-day moving average price of $46.88 and a 200 day moving average price of $49.47. The company has a market cap of $91.55 billion, a P/E ratio of 18.14, a P/E/G ratio of 2.30 and a beta of 0.35. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

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, beating the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

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.