Signal Advisors Wealth LLC Takes Position in Bristol Myers Squibb Company $BMY

Key Points

• Signal Advisors Wealth LLC has made a significant investment of $1.35 million in Bristol Myers Squibb Company, acquiring 29,158 shares during the second quarter.
• Several institutional investors, including Sivia Capital Partners LLC and Gilman Hill Asset Management LLC, have also increased their positions in Bristol Myers Squibb, reflecting a wider confidence in the company's performance.
• Bristol Myers Squibb recently announced a quarterly dividend of $0.62 per share, which demonstrates the company's commitment to returning value to shareholders while maintaining a 100% dividend payout ratio.

Signal Advisors Wealth LLC purchased a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 29,158 shares of the biopharmaceutical company's stock, valued at approximately $1,350,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BMY. Pinney & Scofield Inc. purchased a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new stake in Bristol Myers Squibb during the fourth quarter worth about $26,000. Global Wealth Strategies & Associates raised its position in shares of Bristol Myers Squibb by 137.5% in 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 period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol Myers Squibb during the 1st quarter valued at approximately $31,000. Finally, Accent Capital Management LLC purchased a new stake in Bristol Myers Squibb during the 1st quarter worth approximately $33,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Down 0.1%

NYSE BMY traded down $0.04 during mid-day trading on Monday, hitting $44.98. The company's stock had a trading volume of 11,539,880 shares, compared to its average volume of 10,775,277. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The firm has a market capitalization of $91.55 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 2.30 and a beta of 0.35. The stock's fifty day simple moving average is $46.88 and its two-hundred day simple moving average is $49.47.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $11.32 billion. During the same period in the previous year, the company posted $2.07 EPS. Bristol Myers Squibb'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. Research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

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 issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

Analyst Ratings Changes

Several equities research analysts recently commented on BMY shares. Daiwa Capital Markets cut 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. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup dropped their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One investment 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of "Hold" and a consensus price target of $56.38.

Insider Transactions at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is owned by corporate insiders.

About Bristol Myers Squibb

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.