Resona Asset Management Co. Ltd. Sells 21,761 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Resona Asset Management reduced its Bristol Myers Squibb stake by 3.1% in the fourth quarter, selling 21,761 shares and leaving it with 669,366 shares valued at about $36.1 million.
• Bristol Myers Squibb posted better-than-expected quarterly results, earning $1.58 per share on revenue of $11.49 billion, both ahead of analyst estimates.
• The company also paid a quarterly dividend of $0.63, implying an annual yield of 4.4%, while analysts currently maintain a consensus Hold rating with a $61.31 price target.

Resona Asset Management Co. Ltd. cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 669,366 shares of the biopharmaceutical company's stock after selling 21,761 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Bristol Myers Squibb were worth $36,125,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Northwestern Mutual Investment Management Company LLC lifted its holdings in Bristol Myers Squibb by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 65,046 shares of the biopharmaceutical company's stock worth $3,509,000 after buying an additional 172 shares in the last quarter. ESG Planning DBA Harper Investing lifted its holdings in Bristol Myers Squibb by 1.3% during the 4th quarter. ESG Planning DBA Harper Investing now owns 13,811 shares of the biopharmaceutical company's stock worth $745,000 after buying an additional 180 shares in the last quarter. Novem Group lifted its holdings in Bristol Myers Squibb by 2.9% during the 4th quarter. Novem Group now owns 6,402 shares of the biopharmaceutical company's stock worth $345,000 after buying an additional 183 shares in the last quarter. Dominguez Wealth Management Solutions Inc. lifted its holdings in Bristol Myers Squibb by 0.8% during the 4th quarter. Dominguez Wealth Management Solutions Inc. now owns 22,404 shares of the biopharmaceutical company's stock worth $1,208,000 after buying an additional 185 shares in the last quarter. Finally, McLean Asset Management Corp lifted its holdings in Bristol Myers Squibb by 3.1% during the 4th quarter. McLean Asset Management Corp now owns 6,465 shares of the biopharmaceutical company's stock worth $369,000 after buying an additional 192 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Performance

BMY stock opened at $57.30 on Tuesday. The business's fifty day moving average is $58.57 and its 200-day moving average is $55.53. The company has a quick ratio of 1.28, a current ratio of 1.42 and a debt-to-equity ratio of 2.10. The company has a market cap of $117.02 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 0.16 and a beta of 0.26. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $62.89.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.16. The company had revenue of $11.49 billion for the quarter, compared to the consensus estimate of $10.93 billion. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.80 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.31 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Thursday, April 2nd were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.4%. Bristol Myers Squibb's dividend payout ratio is 70.79%.

Analyst Ratings Changes

Several research firms have issued reports on BMY. Cantor Fitzgerald upped their price objective on Bristol Myers Squibb from $45.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, April 8th. Wall Street Zen raised Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a report on Sunday, April 19th. Piper Sandler reaffirmed an "overweight" rating and set a $75.00 price objective (up from $66.00) on shares of Bristol Myers Squibb in a report on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bristol Myers Squibb in a report on Monday, March 23rd. Finally, UBS Group reaffirmed a "buy" rating and set a $70.00 price objective on shares of Bristol Myers Squibb in a report on Friday, March 6th. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $61.31.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 30,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $61.67, for a total value of $1,850,100.00. Following the transaction, the executive vice president owned 159,248 shares of the company's stock, valued at $9,820,824.16. This represents a 15.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.05% of the stock is currently owned by company insiders.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company's core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS's marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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