Castle Rock Wealth Management LLC Acquires 36,576 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Castle Rock Wealth Management LLC increased its holdings in Bristol Myers Squibb by 458.2%, acquiring 36,576 shares to total 44,559 shares, valued at approximately $2.08 million as of the last SEC filing.
• Bristol Myers Squibb reported strong earnings with $1.46 EPS for the quarter, exceeding analyst expectations of $1.07, alongside revenues of $12.27 billion.
• The company announced a quarterly dividend of $0.62 per share, reflecting a yield of 5.6%, with the payment scheduled for November 3rd.

Castle Rock Wealth Management LLC lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 458.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,559 shares of the biopharmaceutical company's stock after acquiring an additional 36,576 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Bristol Myers Squibb were worth $2,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Valmark Advisers Inc. raised its holdings in Bristol Myers Squibb by 62.5% in the second quarter. Valmark Advisers Inc. now owns 6,887 shares of the biopharmaceutical company's stock worth $319,000 after purchasing an additional 2,650 shares in the last quarter. Secured Retirement Advisors LLC grew its stake in shares of Bristol Myers Squibb by 18.5% in the second quarter. Secured Retirement Advisors LLC now owns 4,679 shares of the biopharmaceutical company's stock worth $217,000 after acquiring an additional 732 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Bristol Myers Squibb in the second quarter worth $67,000. REAP Financial Group LLC grew its stake in shares of Bristol Myers Squibb by 202.8% in the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 428 shares during the last quarter. Finally, BankPlus Trust Department grew its stake in shares of Bristol Myers Squibb by 11.7% in the second quarter. BankPlus Trust Department now owns 34,261 shares of the biopharmaceutical company's stock worth $1,586,000 after acquiring an additional 3,585 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $44.63 on Wednesday. The stock 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 company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a 50 day moving average price of $46.27 and a 200-day moving average price of $48.36. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 EPS. 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 firm 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 dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.6%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on BMY. 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 note on Friday, August 1st. Dbs Bank raised Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday, October 2nd. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. One 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $57.14.

Insiders Place Their Bets

In other Bristol Myers Squibb 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 completion of the sale, the executive vice president directly owned 167,379 shares of the company's stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by company insiders.

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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