Bristol Myers Squibb Company $BMY Position Cut by Capital Investment Advisors LLC

Key Points

• Capital Investment Advisors LLC reduced its stake in Bristol Myers Squibb by 5.8% during the second quarter, holding 216,450 shares valued at approximately $10 million after selling 13,281 shares.
• Bristol Myers Squibb reported $1.46 earnings per share for the last quarter, surpassing analysts' estimates of $1.07, and achieved a revenue of $12.27 billion.
• The company declared a quarterly dividend of $0.62, resulting in an annualized dividend yield of 5.6%, with a payout ratio of 100%.

Capital Investment Advisors LLC trimmed its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 216,450 shares of the biopharmaceutical company's stock after selling 13,281 shares during the period. Capital Investment Advisors LLC's holdings in Bristol Myers Squibb were worth $10,019,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Janney Capital Management LLC increased its holdings in shares of Bristol Myers Squibb by 1.7% during the second quarter. Janney Capital Management LLC now owns 40,993 shares of the biopharmaceutical company's stock valued at $1,898,000 after purchasing an additional 695 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in shares of Bristol Myers Squibb by 19.7% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 5,156 shares of the biopharmaceutical company's stock valued at $239,000 after purchasing an additional 848 shares during the period. GC Wealth Management RIA LLC increased its holdings in shares of Bristol Myers Squibb by 12.1% during the second quarter. GC Wealth Management RIA LLC now owns 9,086 shares of the biopharmaceutical company's stock valued at $421,000 after purchasing an additional 980 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of Bristol Myers Squibb by 5.2% during the second quarter. V Square Quantitative Management LLC now owns 48,828 shares of the biopharmaceutical company's stock valued at $2,260,000 after purchasing an additional 2,429 shares during the period. Finally, Patton Albertson Miller Group LLC grew its holdings in Bristol Myers Squibb by 17.3% during the second quarter. Patton Albertson Miller Group LLC now owns 5,574 shares of the biopharmaceutical company's stock worth $258,000 after acquiring an additional 824 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $44.12 on Tuesday. 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 market cap of $89.80 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.26 and a beta of 0.35. The business's fifty day moving average is $46.58 and its two-hundred day moving average is $48.89. 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 released its 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 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 the consensus estimate of $11.32 billion. During the same quarter in the previous year, the company posted $2.07 earnings per share. 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. Equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

Analyst Ratings Changes

A number of research firms recently issued reports on BMY. Citigroup lowered their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $56.38.

Insider Activity

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the 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 sale, the executive vice president directly owned 167,379 shares in the company, 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 through the SEC website. 0.09% of the stock is owned by company insiders.

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.

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