Bristol Myers Squibb Company $BMY Shares Purchased by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC acquired an additional 10,639 shares in Bristol Myers Squibb, increasing its stake by 1.0% to a total of approximately $50.56 million.
• Institutional ownership of Bristol Myers Squibb stands at 76.41%, with several major investors, including Wellington Management Group LLP, significantly increasing their positions.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, set to be paid on November 3rd, representing a dividend yield of 5.7%.

Chevy Chase Trust Holdings LLC raised its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,092,316 shares of the biopharmaceutical company's stock after buying an additional 10,639 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Bristol Myers Squibb worth $50,563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Wellington Management Group LLP raised its stake in Bristol Myers Squibb by 297.0% during 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 buying an additional 17,750,938 shares in the last quarter. GQG Partners LLC raised its position in shares of Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after purchasing an additional 11,970,598 shares during the period. Nuveen LLC acquired a new stake in shares of Bristol Myers Squibb during the 1st quarter worth approximately $624,369,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $98,898,000. Finally, Bank of New York Mellon Corp raised its position in shares of Bristol Myers Squibb by 8.6% during 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 purchasing an additional 2,131,205 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Activity

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 transaction, the executive vice president directly owned 167,379 shares in the company, 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 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup reiterated a "neutral" rating on shares of Bristol Myers Squibb in a research report on Monday. 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 research report on Tuesday, August 5th. Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday, October 2nd. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Bristol Myers Squibb in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $57.23.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $43.63 on Friday. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The firm has a market capitalization of $88.80 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 2.25 and a beta of 0.33. The business has a 50 day simple moving average of $46.07 and a 200 day simple moving average of $47.55. 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 quarterly 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. 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 for the quarter, compared to analysts' expectations of $11.32 billion. During the same period last year, the firm earned $2.07 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

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

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.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.