Fiduciary Alliance LLC Raises Stake in Bristol Myers Squibb Company $BMY

Key Points

• Fiduciary Alliance LLC has increased its ownership in Bristol Myers Squibb Company by 209.8% during Q2, purchasing an additional 8,912 shares for a total of 13,159 shares valued at $609,000.
• Institutional investors hold 76.41% of Bristol Myers Squibb's stock, with notable increases in holdings from firms like Vanguard Group Inc. and Wellington Management Group LLP.
• Bristol Myers Squibb recently reported an EPS of $1.46, surpassing estimates significantly, and declared a quarterly dividend of $0.62, providing a 5.4% yield.

Fiduciary Alliance LLC grew its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 209.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,159 shares of the biopharmaceutical company's stock after purchasing an additional 8,912 shares during the quarter. Fiduciary Alliance LLC's holdings in Bristol Myers Squibb were worth $609,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. New England Asset Management Inc. lifted its stake in shares of Bristol Myers Squibb by 0.8% during the first quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock worth $2,408,000 after buying an additional 305 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of 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 worth $78,580,000 after buying an additional 13,959 shares during the period. Sage Capital Advisors llc lifted its stake in shares of 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 buying an additional 32,181 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Bristol Myers Squibb during the first quarter worth $843,000. Finally, Avaii Wealth Management LLC lifted its stake in shares of Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after buying an additional 67,221 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Down 1.2%

Shares of BMY stock traded down $0.55 during trading hours on Friday, hitting $45.05. The company had a trading volume of 28,352,566 shares, compared to its average volume of 9,937,920. The company's fifty day moving average is $46.93 and its 200 day moving average is $49.66. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The stock has a market capitalization of $91.70 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.30 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate 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 net margin of 10.58% and a return on equity of 80.04%. The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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 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 5.5%. Bristol Myers Squibb's dividend payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research reports. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup decreased their target price 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. Finally, Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective 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 assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $56.38.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.09% of the company's stock.

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.