Bristol Myers Squibb Company $BMY Shares Sold by First Hawaiian Bank

Key Points

• First Hawaiian Bank has significantly reduced its stake in Bristol Myers Squibb by 91.5%, now owning only 4,261 shares valued at approximately $260,000.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, exceeding forecasts, with revenues of $12.27 billion, marking a slight year-over-year increase.
• Several analysts have recently adjusted their ratings on Bristol Myers Squibb, with price targets dropping, including Citigroup's reduction from $51.00 to $47.00.

First Hawaiian Bank decreased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 91.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,261 shares of the biopharmaceutical company's stock after selling 45,937 shares during the period. First Hawaiian Bank's holdings in Bristol Myers Squibb were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new position in Bristol Myers Squibb in the fourth quarter worth about $25,000. Park Square Financial Group LLC purchased a new position in Bristol Myers Squibb in the fourth quarter worth about $26,000. Global Wealth Strategies & Associates grew its position in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol Myers Squibb in the first quarter worth about $31,000. Finally, Accent Capital Management LLC purchased a new position in Bristol Myers Squibb in the first quarter worth about $33,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BMY shares. Daiwa Capital Markets lowered 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. 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 note on Friday, June 6th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Citigroup lowered their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and an average price target of $56.38.

Insider Buying and Selling

In other Bristol Myers Squibb 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 transaction, the executive vice president owned 167,379 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company's stock.

Bristol Myers Squibb Stock Performance

NYSE:BMY traded down $0.55 during mid-day trading on Friday, hitting $45.05. The company's stock had a trading volume of 28,352,566 shares, compared to its average volume of 9,937,920. 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 stock has a market cap of $91.70 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.33 and a beta of 0.35. The business's fifty day moving average is $46.93 and its two-hundred day moving average is $49.73.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $11.32 billion. During the same period in the prior year, the company earned $2.07 earnings per share. The firm's revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm 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 $0.62 dividend. This represents a $2.48 annualized dividend and a 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.