Columbia Asset Management Sells 90,600 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Columbia Asset Management has significantly reduced its stake in Bristol Myers Squibb, selling 90,600 shares, resulting in a 93.7% decrease in their holdings.
• Bristol Myers Squibb reported a Q2 earnings per share of $1.46, beating analysts' expectations, with revenues also surpassing estimates at $12.27 billion.
• The company announced a quarterly dividend of $0.62, representing a strong yield of 5.5% and continues to maintain a 100% dividend payout ratio.

Columbia Asset Management decreased its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 93.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,090 shares of the biopharmaceutical company's stock after selling 90,600 shares during the period. Columbia Asset Management's holdings in Bristol Myers Squibb were worth $282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb in the first quarter valued at approximately $31,000. Accent Capital Management LLC bought a new stake in Bristol Myers Squibb in the first quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC increased its stake in shares of 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 purchasing an additional 231 shares during the period. GKV Capital Management Co. Inc. bought a new position in shares of Bristol Myers Squibb during the first quarter worth approximately $36,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Bristol Myers Squibb during the first quarter worth approximately $37,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Up 1.9%

Shares of BMY stock opened at $45.00 on Wednesday. The stock's fifty day moving average price is $46.52 and its two-hundred day moving average price is $48.86. The company has a market cap of $91.59 billion, a PE ratio of 18.15, a P/E/G ratio of 2.26 and a beta of 0.35. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The firm 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 was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the firm's 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 sale, the executive vice president owned 167,379 shares of the company's stock, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BMY shares. 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 research note on Friday, August 1st. 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 research note on Tuesday, August 5th. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $56.38.

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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