Dakota Wealth Management Has $2.77 Million Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• Dakota Wealth Management significantly decreased its stake in Bristol Myers Squibb, reducing its holdings by 78.5% to 59,878 shares valued at approximately $2.77 million.
• Several institutional investors have recently bought or increased their positions in Bristol Myers Squibb, with overall institutional ownership now at 76.41%.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, with a yield of 5.7%, reflecting its strong financial performance despite a downturn in stock ratings from several analysts.

Dakota Wealth Management lowered its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 78.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,878 shares of the biopharmaceutical company's stock after selling 218,671 shares during the period. Dakota Wealth Management's holdings in Bristol Myers Squibb were worth $2,772,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. New England Asset Management Inc. lifted its holdings in shares of Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock worth $2,408,000 after acquiring an additional 305 shares during the period. Commonwealth Equity Services LLC raised its position in Bristol Myers Squibb by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock valued at $78,580,000 after purchasing an additional 13,959 shares in the last quarter. Sage Capital Advisors llc lifted its stake in Bristol Myers Squibb by 60.7% during the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company's stock worth $3,946,000 after purchasing an additional 32,181 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at $843,000. Finally, Avaii Wealth Management LLC increased its stake in shares of Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock valued at $4,794,000 after purchasing an additional 67,221 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BMY shares. Citigroup reduced 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. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. One equities research 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $43.45 on Friday. The company has a market capitalization of $88.44 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.26 and a beta of 0.35. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The stock has a fifty day simple moving average of $46.70 and a 200 day simple moving average of $49.27.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly 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 firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side 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 declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 annualized dividend and a yield of 5.7%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

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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