Comerica Bank Has $41.08 Million Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Comerica Bank has reduced its holdings in Bristol Myers Squibb by 4.8%, selling 34,094 shares and owning 673,539 shares valued at approximately $41 million.
• Several hedge funds have modified their stakes in Bristol Myers Squibb, with Marcum Wealth LLC and Beacon Investment Advisory Services both increasing their positions during the 1st quarter.
• Bristol Myers Squibb reported a Q2 EPS of $1.46, exceeding estimates, along with a revenue of $12.27 billion, while also announcing a quarterly dividend yielding 5.2%.

Comerica Bank decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 673,539 shares of the biopharmaceutical company's stock after selling 34,094 shares during the quarter. Comerica Bank's holdings in Bristol Myers Squibb were worth $41,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new stake in shares of Bristol Myers Squibb in the 4th quarter worth about $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb in the 4th quarter worth about $26,000. Global Wealth Strategies & Associates increased its position in shares of Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bristol Myers Squibb in the 1st quarter worth about $31,000. Finally, Accent Capital Management LLC bought a new stake in shares of Bristol Myers Squibb during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

NYSE:BMY traded up $0.11 during midday trading on Friday, reaching $46.99. The stock had a trading volume of 3,990,182 shares, compared to its average volume of 13,124,009. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The stock has a market capitalization of $95.64 billion, a P/E ratio of 18.95, a PEG ratio of 2.44 and a beta of 0.36. The firm's fifty day simple moving average is $47.04 and its 200-day simple moving average is $50.84. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33.

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 net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BMY shares. Citigroup lowered their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.