Toth Financial Advisory Corp Decreases Stake in Bristol Myers Squibb Company $BMY

Key Points

• Toth Financial Advisory Corp has reduced its holdings in Bristol Myers Squibb by 10.8%, now owning 81,580 shares valued at approximately $3.78 million.
• Bristol Myers Squibb reported a quarterly earnings per share of $1.46, surpassing analysts' expectations of $1.07, with quarterly revenue of $12.27 billion.
• The company announced a quarterly dividend of $0.62 per share, equating to an annualized yield of 5.5%, with a dividend payout ratio of 100%.

Toth Financial Advisory Corp decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 10.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 81,580 shares of the biopharmaceutical company's stock after selling 9,916 shares during the period. Toth Financial Advisory Corp's holdings in Bristol Myers Squibb were worth $3,776,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after purchasing an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Bristol Myers Squibb during the 4th quarter worth approximately $13,094,000. Novem Group acquired a new position in Bristol Myers Squibb during the 4th quarter valued at approximately $205,000. Fourth Dimension Wealth LLC acquired a new position in Bristol Myers Squibb during the 4th quarter valued at approximately $48,000. Finally, GTS Securities LLC increased its stake in Bristol Myers Squibb by 127.9% during the 4th quarter. GTS Securities LLC now owns 19,911 shares of the biopharmaceutical company's stock valued at $1,126,000 after purchasing an additional 91,354 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BMY. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Citigroup cut their price target 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. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. Finally, Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Trading Down 0.1%

NYSE:BMY traded down $0.04 on Monday, reaching $44.98. 11,539,880 shares of the company's stock were exchanged, compared to its average volume of 13,051,072. The business has a fifty day moving average of $46.93 and a 200-day moving average of $49.58. 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 firm has a market capitalization of $91.55 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 2.30 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.Bristol Myers Squibb's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend 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 presently 100.00%.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the 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 sale, the executive vice president directly owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.07% of the company's stock.

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.