Mechanics Bank Trust Department Sells 12,952 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Mechanics Bank Trust Department reduced its stake in Bristol Myers Squibb by 23.8%, selling 12,952 shares, leaving them with 41,574 shares valued at approximately $1.92 million.
• Analysts have been adjusting their ratings on Bristol Myers Squibb, with Daiwa Capital Markets downgrading the stock from "outperform" to "neutral" and Citigroup lowering its target price from $51 to $47.
• Bristol Myers Squibb is set to pay a quarterly dividend of $0.62 on November 3rd, representing an annual yield of 5.5%.

Mechanics Bank Trust Department cut its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 23.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,574 shares of the biopharmaceutical company's stock after selling 12,952 shares during the quarter. Mechanics Bank Trust Department's holdings in Bristol Myers Squibb were worth $1,924,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BMY. Caitlin John LLC acquired a new position in Bristol Myers Squibb during the second quarter worth $361,000. GAMMA Investing LLC lifted its stake in Bristol Myers Squibb by 2.1% in the second quarter. GAMMA Investing LLC now owns 40,508 shares of the biopharmaceutical company's stock valued at $1,875,000 after acquiring an additional 823 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Bristol Myers Squibb by 164.2% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 75,919 shares of the biopharmaceutical company's stock valued at $3,514,000 after acquiring an additional 47,189 shares during the last quarter. Lewis Asset Management LLC grew its position in shares of Bristol Myers Squibb by 53.7% in the 2nd quarter. Lewis Asset Management LLC now owns 9,348 shares of the biopharmaceutical company's stock valued at $433,000 after acquiring an additional 3,267 shares during the period. Finally, Abound Wealth Management raised its holdings in shares of Bristol Myers Squibb by 499.7% in the 2nd quarter. Abound Wealth Management now owns 1,829 shares of the biopharmaceutical company's stock valued at $85,000 after purchasing an additional 1,524 shares during the period. Institutional investors own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

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

Bristol Myers Squibb Trading Down 0.1%

NYSE BMY traded down $0.04 on Monday, reaching $44.98. The company had a trading volume of 11,539,880 shares, compared to its average volume of 10,775,277. The firm has a market cap of $91.55 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 2.30 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The business has a 50 day moving average of $46.88 and a two-hundred day moving average of $49.47.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released 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. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. Bristol Myers Squibb's revenue for the quarter was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's payout ratio is currently 100.00%.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by corporate 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.