SeaCrest Wealth Management LLC Sells 7,018 Shares of Bristol Myers Squibb Company $BMY

Key Points

• SeaCrest Wealth Management LLC has reduced its stake in Bristol Myers Squibb by 25.7%, now holding shares worth approximately $937,000.
• Several institutional investors significantly increased their stakes in Bristol Myers Squibb, with Wellington Management raising its position by 297.0%, now owning shares valued at over $1.4 billion.
• Bristol Myers Squibb recently declared a quarterly dividend of $0.62, representing a 5.5% dividend yield, with a payout ratio of 100.00%.

SeaCrest Wealth Management LLC reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 25.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 20,242 shares of the biopharmaceutical company's stock after selling 7,018 shares during the period. SeaCrest Wealth Management LLC's holdings in Bristol Myers Squibb were worth $937,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new stake in Bristol Myers Squibb during the fourth quarter worth about $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb during the fourth quarter worth $26,000. Global Wealth Strategies & Associates boosted its position in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Bristol Myers Squibb during the first quarter valued at $31,000. Finally, Accent Capital Management LLC bought a new position in Bristol Myers Squibb during the first quarter valued at $33,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on BMY. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Citigroup reduced their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Daiwa Capital Markets cut shares of 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. Finally, Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and an average price target of $56.38.

Insider Transactions at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.07% of the company's stock.

Bristol Myers Squibb Stock Down 0.1%

Bristol Myers Squibb stock traded down $0.06 during mid-day trading on Tuesday, hitting $44.92. The company's stock had a trading volume of 5,888,182 shares, compared to its average volume of 13,008,683. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The firm's 50 day moving average is $46.88 and its 200 day moving average is $49.47. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market cap of $91.43 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 2.30 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 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 in the prior year, the firm posted $2.07 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's payout ratio is presently 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.