Bristol Myers Squibb Company $BMY Position Reduced by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp has reduced its holdings in Bristol Myers Squibb by 21.9%, owning 114,590 shares valued at nearly $7 million after selling 32,121 shares during the first quarter.
• Equities research analysts have recently downgraded Bristol Myers Squibb's stock ratings, with Citigroup lowering the price target from $51.00 to $47.00 and adjusting its rating to "neutral."
• Bristol Myers Squibb announced a quarterly dividend of $0.62, reflecting a 5.2% yield, with a dividend payout ratio of 100% as of its last reporting date.

Jones Financial Companies Lllp cut its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 21.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,590 shares of the biopharmaceutical company's stock after selling 32,121 shares during the period. Jones Financial Companies Lllp's holdings in Bristol Myers Squibb were worth $6,989,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new position in Bristol Myers Squibb in the fourth quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in Bristol Myers Squibb in the fourth quarter valued at $26,000. Global Wealth Strategies & Associates raised its stake in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bristol Myers Squibb in the first quarter valued at $31,000. Finally, Accent Capital Management LLC acquired a new stake in Bristol Myers Squibb in the first quarter valued at $33,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. 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 note on Tuesday, August 5th. Citigroup cut 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. Finally, Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $56.38.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb Trading Down 2.8%

Shares of Bristol Myers Squibb stock traded down $1.32 during trading hours on Friday, reaching $46.22. 11,892,193 shares of the company's stock were exchanged, compared to its average volume of 9,078,454. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The firm has a market capitalization of $94.08 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.43 and a beta of 0.35. The company has a fifty day moving average of $47.08 and a 200-day moving average of $50.18. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS 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 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 prior year, the firm posted $2.07 EPS. The business'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. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Bristol Myers Squibb Company 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.