Bristol Myers Squibb Company $BMY Shares Sold by Kingswood Wealth Advisors LLC

Key Points

• Kingswood Wealth Advisors LLC reduced its stake in Bristol Myers Squibb Company by 46.1%, now holding 41,579 shares valued at approximately $1,925,000.
• The biopharmaceutical company reported $1.46 EPS for the previous quarter, surpassing analysts' expectations, with a revenue of $12.27 billion.
• Bristol Myers Squibb will pay a quarterly dividend of $0.62 on November 3rd, representing a 5.6% dividend yield with a payout ratio of 100%.

Kingswood Wealth Advisors LLC cut its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 46.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,579 shares of the biopharmaceutical company's stock after selling 35,492 shares during the period. Kingswood Wealth Advisors LLC's holdings in Bristol Myers Squibb were worth $1,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bristol Myers Squibb in the first quarter worth approximately $31,000. Accent Capital Management LLC acquired a new position in Bristol Myers Squibb during the first quarter worth $33,000. CBIZ Investment Advisory Services LLC boosted its stake in Bristol Myers Squibb by 66.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 231 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new position in Bristol Myers Squibb during the first quarter worth $36,000. Finally, EQ Wealth Advisors LLC acquired a new position in Bristol Myers Squibb during the first quarter worth $37,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Price Performance

NYSE:BMY opened at $44.63 on Wednesday. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $90.84 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.31 and a beta of 0.33. The stock's fifty day moving average is $46.27 and its two-hundred day moving average is $48.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BMY shares. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. Citigroup lowered their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Weiss Ratings reissued a "hold (c)" rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Finally, Dbs Bank upgraded 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 assigned a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $57.14.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction on 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 sale, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company's stock.

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.

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