Farmers & Merchants Investments Inc. Trims Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• Farmers & Merchants Investments Inc. reduced its stake in Bristol Myers Squibb by 11.4%, resulting in ownership of 59,679 shares valued at approximately $2.76 million.
• Analysts have adjusted their ratings on Bristol Myers Squibb, with Daiwa Capital Markets downgrading the stock from "outperform" to "neutral" with a target price of $42.00.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share, which is set to be paid on November 3rd, representing an annualized yield of 5.5%.

Farmers & Merchants Investments Inc. lowered its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 11.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 59,679 shares of the biopharmaceutical company's stock after selling 7,705 shares during the period. Farmers & Merchants Investments Inc.'s holdings in Bristol Myers Squibb were worth $2,763,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BMY. Park Square Financial Group LLC purchased a new position in shares of Bristol Myers Squibb during the 4th quarter valued at about $26,000. Global Wealth Strategies & Associates grew its position in shares of Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bristol Myers Squibb during the 1st quarter valued at about $31,000. Accent Capital Management LLC acquired a new stake in shares of Bristol Myers Squibb during the 1st quarter valued at about $33,000. Finally, CBIZ Investment Advisory Services LLC grew its position in shares of Bristol Myers Squibb by 66.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock valued at $35,000 after acquiring an additional 231 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company's stock.

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $44.98 on Tuesday. The company has a fifty day moving average of $46.88 and a two-hundred day moving average of $49.47. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33. 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 company has a market capitalization of $91.55 billion, a PE ratio of 18.14, a P/E/G ratio of 2.30 and a beta of 0.35.

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, beating 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 business had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. During the same period in the prior year, the company earned $2.07 earnings per share. The business's revenue 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. As a group, analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 is presently 100.00%.

About Bristol Myers Squibb

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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