Meritage Portfolio Management Has $299,000 Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Meritage Portfolio Management reduced its stake in Bristol Myers Squibb by 93.9%, selling 99,496 shares during the 2nd quarter and now holding a total of $299,000 worth of stock.
• Various institutional investors have shown significant activity with Bristol Myers Squibb, including a new position from Trifecta Capital Advisors valued at $25,000 and a 202.8% stake increase from REAP Financial Group.
• Bristol Myers Squibb recently announced a quarterly dividend of $0.62 per share, implying an annualized dividend yield of 5.7%.

Meritage Portfolio Management lessened its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 93.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,450 shares of the biopharmaceutical company's stock after selling 99,496 shares during the quarter. Meritage Portfolio Management's holdings in Bristol Myers Squibb were worth $299,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new position in Bristol Myers Squibb in the 2nd quarter valued at approximately $25,000. REAP Financial Group LLC increased its stake in Bristol Myers Squibb by 202.8% in the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 428 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb during the 1st quarter worth $31,000. Accent Capital Management LLC acquired a new position in shares of Bristol Myers Squibb during the 1st quarter worth $33,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of 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. Institutional investors and hedge funds own 76.41% of the company's stock.

Wall Street Analyst Weigh In

BMY has been the topic of several analyst reports. Citigroup restated a "neutral" rating on shares of Bristol Myers Squibb in a research note on Monday. Daiwa Capital Markets lowered 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 note on Tuesday, August 5th. Dbs Bank upgraded shares of Bristol Myers Squibb to a "moderate buy" rating in a research note on Thursday, October 2nd. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $57.14.

Insider Activity at Bristol Myers Squibb

In other 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 of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $43.55 on Tuesday. 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 firm has a fifty day moving average price of $46.22 and a two-hundred day moving average price of $47.84. The company has a market cap of $88.63 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.26 and a beta of 0.33.

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, beating analysts' consensus estimates 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 firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the firm earned $2.07 EPS. The business's 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. Analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Bristol Myers Squibb 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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