State Street Corp Has $6.09 Billion Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• State Street increased its Bristol Myers Squibb stake by 7.3% in the second quarter, bringing its holdings to 105.8 million shares valued at approximately $6.09 billion. Institutional investors collectively own 76.41% of BMY.
• Bristol Myers Squibb exceeded quarterly expectations, reporting $2.04 in EPS versus the $1.60 consensus estimate and $12.97 billion in revenue, up 5.7% year over year.
• The company declared a quarterly dividend of $0.63 per share, equivalent to a 4.0% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $66.72.

State Street Corp boosted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,757,638 shares of the biopharmaceutical company's stock after purchasing an additional 7,192,724 shares during the period. State Street Corp owned 5.18% of Bristol Myers Squibb worth $6,093,755,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in BMY. Lazard Asset Management LLC increased its holdings in shares of Bristol Myers Squibb by 23.7% during the 1st quarter. Lazard Asset Management LLC now owns 1,924,036 shares of the biopharmaceutical company's stock worth $116,693,000 after acquiring an additional 368,193 shares during the last quarter. Callan Family Office LLC acquired a new stake in Bristol Myers Squibb during the 2nd quarter valued at $3,575,000. BlackRock Inc. boosted its position in Bristol Myers Squibb by 5.1% during the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company's stock worth $10,393,783,000 after purchasing an additional 8,702,106 shares during the period. Asset One Wealth Management LLC acquired a new position in shares of Bristol Myers Squibb in the fourth quarter valued at $4,075,000. Finally, Motley Fool Asset Management LLC lifted its stake in shares of Bristol Myers Squibb by 30.4% during the 4th quarter. Motley Fool Asset Management LLC now owns 216,468 shares of the biopharmaceutical company's stock worth $11,676,000 after buying an additional 50,403 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

NYSE:BMY traded up $0.06 during trading hours on Tuesday, hitting $62.68. The company's stock had a trading volume of 2,184,600 shares, compared to its average volume of 11,850,441. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. The company has a market capitalization of $128.04 billion, a P/E ratio of 13.80, a PEG ratio of 0.30 and a beta of 0.23. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $68.64. The stock has a fifty day simple moving average of $64.27 and a 200-day simple moving average of $60.13.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.44. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The business had revenue of $12.97 billion during the quarter, compared to analysts' expectations of $11.74 billion. During the same period in the prior year, the company earned $1.46 EPS. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, analysts anticipate that Bristol Myers Squibb Company will post 6.95 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, October 2nd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 55.51%.

Insider Activity at Bristol Myers Squibb

In other news, SVP Phil M. Holzer sold 500 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the transaction, the senior vice president owned 16,862 shares of the company's stock, valued at $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Guggenheim reissued a "buy" rating and issued a $75.00 price target (up from $72.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Royal Bank Of Canada lifted their price target on Bristol Myers Squibb from $60.00 to $64.00 and gave the stock a "sector perform" rating in a report on Friday, July 31st. Argus upgraded Bristol Myers Squibb from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research report on Wednesday, August 5th. Roth Capital started coverage on shares of Bristol Myers Squibb in a research report on Wednesday, August 5th. They issued a "buy" rating and a $75.00 target price for the company. Finally, Wall Street Zen raised shares of Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.72.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its portfolio includes therapies for cancer, blood disorders, cardiovascular disease, immune-mediated conditions and psychiatric disorders. Key products include Opdivo and Yervoy for oncology, Eliquis for reducing the risk of stroke and systemic embolism, Revlimid for certain blood cancers, and several other specialty medicines.

The company serves patients and healthcare providers in markets around the world, with operations and commercial activities spanning North America, Europe, Asia-Pacific and other international regions.

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