Mid American Wealth Advisory Group Inc. Boosts Stake in Bristol Myers Squibb Company $BMY

Key Points

• Mid American Wealth Advisory Group Inc. increased its stake in Bristol Myers Squibb by 9.9%, owning a total of 73,477 shares valued at approximately $3.4 million.
• The biopharmaceutical company reported earnings of $1.46 per share, exceeding analysts' expectations of $1.07, with a quarterly revenue of $12.27 billion.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share, representing a 5.7% yield, with a payout ratio of 100%.

Mid American Wealth Advisory Group Inc. increased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 9.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,477 shares of the biopharmaceutical company's stock after buying an additional 6,608 shares during the quarter. Bristol Myers Squibb comprises 1.6% of Mid American Wealth Advisory Group Inc.'s investment portfolio, making the stock its 22nd biggest holding. Mid American Wealth Advisory Group Inc.'s holdings in Bristol Myers Squibb were worth $3,401,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new position in shares of Bristol Myers Squibb in the 2nd quarter valued at $25,000. REAP Financial Group LLC increased its stake in Bristol Myers Squibb by 202.8% in the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 428 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $31,000. Accent Capital Management LLC acquired a new stake in shares of Bristol Myers Squibb during the first quarter worth about $33,000. Finally, CBIZ Investment Advisory Services LLC grew its holdings in shares of Bristol Myers Squibb by 66.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 231 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY opened at $43.61 on Tuesday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The firm has a market capitalization of $88.76 billion, a P/E ratio of 17.58, a PEG ratio of 2.27 and a beta of 0.33. The company's fifty day moving average is $46.03 and its two-hundred day moving average is $47.32.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion during 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 revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.07 EPS. 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 fiscal year.

Bristol Myers Squibb Announces Dividend

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

Wall Street Analysts Forecast Growth

BMY has been the subject of several analyst reports. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research note on Tuesday, August 5th. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Citigroup restated a "neutral" rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Finally, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $57.23.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the firm'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 completion of the transaction, the executive vice president directly owned 167,379 shares of the company's stock, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% 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.

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