Bristol Myers Squibb Company $BMY Holdings Cut by NBT Bank N A NY

Key Points

• NBT Bank N A NY reduced its stake in Bristol Myers Squibb by 21.4%, now holding 60,930 shares valued at approximately $2.82 million.
• Bristol Myers Squibb reported $1.46 earnings per share for the last quarter, exceeding expectations and up from $2.07 per share a year ago, with revenue of $12.27 billion.
• The company announced a quarterly dividend of $0.62 per share, translating to an annualized dividend of $2.48 and a yield of 5.6%.

NBT Bank N A NY lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 21.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,930 shares of the biopharmaceutical company's stock after selling 16,600 shares during the quarter. NBT Bank N A NY's holdings in Bristol Myers Squibb were worth $2,820,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BMY. Vanguard Group Inc. boosted its stake in shares of Bristol Myers Squibb by 0.8% during the 1st 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. raised its holdings in Bristol Myers Squibb by 0.5% in 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. Bank of New York Mellon Corp raised its holdings in 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 during the period. Northern Trust Corp increased its holdings in shares of Bristol Myers Squibb by 5.3% during the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company's stock worth $1,584,185,000 after purchasing an additional 1,316,144 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Trading Down 1.1%

BMY opened at $44.63 on Wednesday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market cap of $90.84 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 2.31 and a beta of 0.33. The firm has a 50 day simple moving average of $46.27 and a 200 day simple moving average of $48.36. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week 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 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 during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the previous year, the firm posted $2.07 earnings per share. 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. On average, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Insider Buying and Selling

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were 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 $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BMY. Daiwa Capital Markets downgraded shares of 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. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup decreased their target price on shares of 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. Finally, Dbs Bank upgraded shares of Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $57.14.

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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