Franklin Street Advisors Inc. NC Increases Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• Franklin Street Advisors Inc. NC increased its stake in Bristol Myers Squibb by 32.9% in the 2nd quarter, acquiring an additional 117,028 shares, bringing its total to 472,621 shares valued at approximately $21.88 million.
• Several brokerages have recently adjusted their ratings on Bristol Myers Squibb, with Daiwa Capital Markets downgrading the stock from "outperform" to "neutral" and setting a price target of $42.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share, with an upcoming payment date of November 3rd, representing an annualized yield of 5.5%.

Franklin Street Advisors Inc. NC raised its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 32.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 472,621 shares of the biopharmaceutical company's stock after purchasing an additional 117,028 shares during the period. Bristol Myers Squibb accounts for approximately 1.4% of Franklin Street Advisors Inc. NC's portfolio, making the stock its 28th largest holding. Franklin Street Advisors Inc. NC's holdings in Bristol Myers Squibb were worth $21,878,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of BMY. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb in the first quarter valued at approximately $31,000. Accent Capital Management LLC acquired a new position in shares of Bristol Myers Squibb in the first quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC raised its position in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock valued at $35,000 after buying an additional 231 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new position in shares of Bristol Myers Squibb in the first quarter valued at approximately $36,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Bristol Myers Squibb in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BMY. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Dbs Bank raised shares of Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday. Citigroup dropped their price target 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 lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $45.39 on Friday. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The firm has a fifty day moving average of $46.36 and a 200-day moving average of $48.65. The firm has a market capitalization of $92.38 billion, a P/E ratio of 18.30, a PEG ratio of 2.34 and a beta of 0.33. 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 (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. The business's quarterly 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 predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. Bristol Myers Squibb's dividend payout ratio is 100.00%.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.