State of Alaska Department of Revenue Trims Stake in Bristol Myers Squibb Company $BMY

Key Points

• The State of Alaska Department of Revenue reduced its stake in Bristol Myers Squibb by 2.7% in the second quarter, now holding 330,237 shares valued at approximately $15.3 million.
• Several hedge funds have adjusted their positions in the company, reflecting a strong institutional interest, with 76.41% of the stock owned by institutional investors.
• Bristol Myers Squibb has been downgraded by multiple analysts, with a consensus target price of $56.38 and an average rating of "Hold."

State of Alaska Department of Revenue lowered its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 330,237 shares of the biopharmaceutical company's stock after selling 8,990 shares during the period. State of Alaska Department of Revenue's holdings in Bristol Myers Squibb were worth $15,286,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb in the 4th quarter worth about $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb during the first quarter valued at approximately $31,000. Accent Capital Management LLC purchased a new position in shares of Bristol Myers Squibb during the first quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Bristol Myers Squibb by 66.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock worth $35,000 after purchasing an additional 231 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter worth approximately $36,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BMY shares. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. 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 note on Tuesday, August 5th. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Citigroup decreased their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Finally, Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb presently has an average rating of "Hold" and a consensus target price 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 shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, the executive vice president owned 167,379 shares of the company's stock, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by insiders.

Bristol Myers Squibb Price Performance

NYSE BMY opened at $44.12 on Friday. The stock has a market capitalization of $89.80 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 2.22 and a beta of 0.35. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. 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 business's fifty day moving average price is $46.63 and its 200-day moving average price is $49.15.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter in the prior year, the business earned $2.07 EPS. The business's quarterly revenue 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, equities analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current 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 paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) 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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