HB Wealth Management LLC Has $3.16 Million Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• HB Wealth Management LLC reduced its stake in Bristol Myers Squibb by 24.3%, owning 68,190 shares valued at $3.16 million after selling 21,852 shares in the second quarter.
• The company reported an earnings per share (EPS) of $1.46 for the last quarter, exceeding the consensus estimate of $1.07, and had a total revenue of $12.27 billion, surpassing the expected $11.32 billion.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, resulting in an annualized dividend of $2.48 and a yield of 5.2%, with a dividend payout ratio of 100%.

HB Wealth Management LLC reduced its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 24.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,190 shares of the biopharmaceutical company's stock after selling 21,852 shares during the quarter. HB Wealth Management LLC's holdings in Bristol Myers Squibb were worth $3,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb during the 1st quarter worth about $31,000. Accent Capital Management LLC bought a new stake in Bristol Myers Squibb during the 1st quarter worth about $33,000. CBIZ Investment Advisory Services LLC raised its holdings in 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 worth $35,000 after purchasing an additional 231 shares during the last quarter. GKV Capital Management Co. Inc. bought a new stake in Bristol Myers Squibb during the 1st quarter worth about $36,000. Finally, EQ Wealth Advisors LLC bought a new stake in Bristol Myers Squibb during the 1st quarter worth about $37,000. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $47.39 on Thursday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The company has a market capitalization of $96.47 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 2.31 and a beta of 0.33. The company's 50 day moving average price is $46.49 and its two-hundred day moving average price is $48.85. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33.

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, topping the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business 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. This represents a $2.48 annualized dividend and a yield of 5.2%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BMY shares. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Citigroup cut their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Company 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.

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