International Assets Investment Management LLC Lowers Position in Bristol Myers Squibb Company $BMY

Key Points

• International Assets Investment Management LLC has reduced its stake in Bristol Myers Squibb by 17.7%, now holding 35,739 shares valued at approximately $1.65 million as of the latest SEC filing.
• A variety of hedge funds have made significant adjustments to their positions in Bristol Myers Squibb, with some, like Wellington Management Group and GQG Partners, dramatically increasing their stakes by up to 297% and 22,647.6% respectively.
• Bristol Myers Squibb announced a quarterly dividend of $0.62, representing an annual yield of 5.7%, with the dividend payout ratio standing at 100%.

International Assets Investment Management LLC cut its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 17.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,739 shares of the biopharmaceutical company's stock after selling 7,675 shares during the quarter. International Assets Investment Management LLC's holdings in Bristol Myers Squibb were worth $1,654,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BMY. Wellington Management Group LLP lifted its stake in Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock worth $1,447,198,000 after acquiring an additional 17,750,938 shares during the period. GQG Partners LLC raised its holdings in Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after purchasing an additional 11,970,598 shares in the last quarter. Nuveen LLC bought a new position in Bristol Myers Squibb in the first quarter worth about $624,369,000. Kingstone Capital Partners Texas LLC bought a new position in Bristol Myers Squibb in the second quarter worth about $98,898,000. Finally, Bank of New York Mellon Corp raised its holdings in Bristol Myers Squibb by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after purchasing an additional 2,131,205 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Citigroup reiterated a "neutral" rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Dbs Bank raised shares of Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday, October 2nd. Finally, Morgan Stanley reaffirmed 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, five have issued a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $57.23.

Insiders Place Their Bets

In related 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.07% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $43.63 on Monday. The firm has a market capitalization of $88.80 billion, a P/E ratio of 17.59, a PEG ratio of 2.27 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. The company has a 50 day moving average price of $46.07 and a 200 day moving average price of $47.40. 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 issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share 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 for the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the prior year, the company earned $2.07 EPS. Bristol Myers Squibb's quarterly 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. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

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.

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.