Keudell Morrison Wealth Management Sells 5,643 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Keudell Morrison Wealth Management cut its stake in Bristol Myers Squibb by 28.7%, selling 5,643 shares and leaving them with 14,005 shares valued at $648,000.
• Despite the stake reduction by some investors, institutional investors own 76.41% of Bristol Myers Squibb shares, reflecting strong institutional interest in the company.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, which will be paid on November 3rd, representing an annualized yield of 5.5%.

Keudell Morrison Wealth Management reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 28.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,005 shares of the biopharmaceutical company's stock after selling 5,643 shares during the quarter. Keudell Morrison Wealth Management's holdings in Bristol Myers Squibb were worth $648,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. New England Asset Management Inc. grew its stake in shares of Bristol Myers Squibb by 0.8% during the first quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock valued at $2,408,000 after buying an additional 305 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Bristol Myers Squibb by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock valued at $78,580,000 after buying an additional 13,959 shares during the last quarter. Sage Capital Advisors llc grew its stake in shares of Bristol Myers Squibb by 60.7% during the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company's stock valued at $3,946,000 after buying an additional 32,181 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Bristol Myers Squibb during the first quarter valued at approximately $843,000. Finally, Avaii Wealth Management LLC grew its stake in shares of Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock valued at $4,794,000 after buying an additional 67,221 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of analyst reports. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Citigroup reduced their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Weiss Ratings restated a "hold (c)" rating on shares of Bristol Myers Squibb in a report on Saturday, September 27th. Finally, Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Stock Down 0.7%

Bristol Myers Squibb stock opened at $45.39 on Friday. The business has a fifty day moving average of $46.36 and a two-hundred day moving average of $48.58. 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 firm has a market cap of $92.38 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.32 and a beta of 0.33. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.Bristol Myers Squibb's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 dividend on an annualized basis and a yield of 5.5%. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Insider Transactions at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was 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 $7,922,048.07. This trade represents a 25.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by company insiders.

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.

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