Quadcap Wealth Management LLC Sells 6,228 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Quadcap Wealth Management LLC has reduced its holdings in Bristol Myers Squibb by 31.8%, selling 6,228 shares and now owning 13,357 shares worth $815,000.
• Bristol Myers Squibb exceeded analysts' expectations with $1.46 earnings per share for the quarter, generating $12.27 billion in revenue compared to the expected $11.32 billion.
• The company declared a quarterly dividend of $0.62 per share, which represents a 5.2% yield, and has a dividend payout ratio of 100%.

Quadcap Wealth Management LLC decreased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 31.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,357 shares of the biopharmaceutical company's stock after selling 6,228 shares during the quarter. Quadcap Wealth Management LLC's holdings in Bristol Myers Squibb were worth $815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Marcum Wealth LLC lifted its stake in Bristol Myers Squibb by 1.0% in the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after buying an additional 193 shares during the period. Beacon Investment Advisory Services Inc. lifted its stake in Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after buying an additional 212 shares during the period. 1858 Wealth Management LLC lifted its stake in Bristol Myers Squibb by 3.6% in the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after buying an additional 221 shares during the period. Tompkins Financial Corp lifted its stake in Bristol Myers Squibb by 2.5% in the first quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock valued at $558,000 after buying an additional 225 shares during the period. Finally, LS Investment Advisors LLC lifted its stake in Bristol Myers Squibb by 1.3% in the first quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock valued at $1,038,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BMY. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. 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 report on Friday, August 1st. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Stock Up 0.6%

Bristol Myers Squibb stock traded up $0.29 during midday trading on Friday, reaching $47.17. The stock had a trading volume of 10,685,502 shares, compared to its average volume of 10,735,505. The firm's fifty day simple moving average is $47.05 and its 200-day simple moving average is $50.74. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The stock has a market capitalization of $96.01 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.36. 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 (NYSE:BMY - Get Free Report) last announced its 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. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the firm earned $2.07 EPS. Bristol Myers Squibb's revenue for the quarter was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 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.