Ritholtz Wealth Management Trims Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Ritholtz Wealth Management reduced its stake in Bristol Myers Squibb by 38.0%, owning 22,896 shares worth $1,060,000 after selling 14,008 shares recently.
• Insider trading was reported, with EVP David V. Elkins selling 56,000 shares for a total of approximately $2.65 million, reducing his ownership by 25.07%.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, representing a 5.7% yield based on its current price.

Ritholtz Wealth Management reduced its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 38.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,896 shares of the biopharmaceutical company's stock after selling 14,008 shares during the quarter. Ritholtz Wealth Management's holdings in Bristol Myers Squibb were worth $1,060,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol Myers Squibb during the first quarter worth about $31,000. Trifecta Capital Advisors LLC purchased a new position in Bristol Myers Squibb during the second quarter worth about $25,000. Accent Capital Management LLC purchased a new position in Bristol Myers Squibb during the first quarter worth about $33,000. CBIZ Investment Advisory Services LLC lifted its position in 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 period. Finally, GKV Capital Management Co. Inc. purchased a new position in Bristol Myers Squibb during the first quarter worth about $36,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $43.63 on Friday. The company has a market cap of $88.80 billion, a P/E ratio of 17.59, a PEG ratio of 2.25 and a beta of 0.33. 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 business's 50-day simple moving average is $46.07 and its 200 day simple moving average is $47.55.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company's revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Analyst Ratings Changes

Several research firms recently weighed in on BMY. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bristol Myers Squibb in a research report on Tuesday. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Dbs Bank upgraded 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, Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and a consensus price target of $57.23.

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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