Gateway Investment Advisers LLC Sells 8,818 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Gateway Investment Advisers LLC has reduced its stake in Bristol Myers Squibb by 7.9%, holding 103,173 shares valued at approximately $4.78 million as of the latest SEC filing.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, exceeding analysts' expectations, and generated revenues of $12.27 billion, up 0.6% year-over-year.
• The company has announced a quarterly dividend of $0.62 per share, representing an annualized yield of 5.4% and a dividend payout ratio of 100%.

Gateway Investment Advisers LLC cut its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 7.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,173 shares of the biopharmaceutical company's stock after selling 8,818 shares during the quarter. Gateway Investment Advisers LLC's holdings in Bristol Myers Squibb were worth $4,776,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BMY. Marcum Wealth LLC grew its position in Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock worth $1,177,000 after acquiring an additional 193 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its stake in Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after acquiring an additional 212 shares during the last quarter. 1858 Wealth Management LLC grew its stake in shares of Bristol Myers Squibb by 3.6% in the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock worth $392,000 after purchasing an additional 221 shares during the last quarter. Tompkins Financial Corp raised its holdings in shares of Bristol Myers Squibb by 2.5% during the first quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock valued at $558,000 after purchasing an additional 225 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of Bristol Myers Squibb by 1.3% during the first quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock worth $1,038,000 after acquiring an additional 225 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMY has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. Daiwa America lowered 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 lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Stock Down 1.2%

NYSE BMY traded down $0.55 during mid-day trading on Friday, reaching $45.05. The 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 fifty day moving average price of $46.93 and a 200 day moving average price of $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. The stock has a market cap 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 announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations 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 was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be given 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 (DPR) is 100.00%.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction 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 trade represents a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company's stock.

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.