Sagespring Wealth Partners LLC Cuts Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• Sagespring Wealth Partners LLC reduced its stake in Bristol Myers Squibb by 34.4%, now holding 14,159 shares valued at approximately $655,000.
• Insider David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock, representing a 25.07% decrease in his ownership.
• Bristol Myers Squibb has declared a quarterly dividend of $0.62 to be paid on November 3rd, with an annualized yield of 5.7%.

Sagespring Wealth Partners LLC lessened its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 34.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,159 shares of the biopharmaceutical company's stock after selling 7,419 shares during the period. Sagespring Wealth Partners LLC's holdings in Bristol Myers Squibb were worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the business'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 approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BMY. Dbs Bank raised Bristol Myers Squibb to a "moderate buy" rating in a report on Thursday, October 2nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Bristol Myers Squibb in a report on Tuesday. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a report on Tuesday, August 5th. Finally, Citigroup reissued a "neutral" rating on shares of Bristol Myers Squibb in a report on Monday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $57.23.

Bristol Myers Squibb Trading Down 0.6%

Bristol Myers Squibb stock opened at $43.37 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a market capitalization of $88.28 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.26 and a beta of 0.33. The stock has a 50-day moving average price of $46.12 and a 200 day moving average price of $47.66.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping 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 firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the previous year, the company posted $2.07 earnings per share. The company's revenue 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. Sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

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

Bristol Myers Squibb Company 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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