Truist Financial Corp Has $61.06 Million Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Truist Financial Corp has reduced its stake in Bristol Myers Squibb by 16.4%, owning approximately $61.06 million worth of shares after selling 259,277 shares in the second quarter.
• Several institutional investors have increased their positions in Bristol Myers Squibb, with CBIZ Investment Advisory Services LLC notably raising its shares by 66.0%.
• Bristol Myers Squibb recently announced a quarterly dividend of $0.62 per share, representing a 5.2% yield, and set its FY 2025 guidance at 6.350-6.650 EPS.

Truist Financial Corp decreased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 16.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,319,046 shares of the biopharmaceutical company's stock after selling 259,277 shares during the period. Truist Financial Corp owned 0.06% of Bristol Myers Squibb worth $61,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Beacon Investment Advisory Services Inc. increased its position in shares of Bristol Myers Squibb by 2.7% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after purchasing an additional 212 shares during the last quarter. 1858 Wealth Management LLC increased its position in shares of Bristol Myers Squibb by 3.6% during the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after purchasing an additional 221 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Bristol Myers Squibb by 1.3% during the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock valued at $1,038,000 after purchasing an additional 225 shares during the last quarter. Lipe & Dalton increased its position in shares of Bristol Myers Squibb by 0.4% during the 1st quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company's stock valued at $3,476,000 after purchasing an additional 230 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its position in shares of Bristol Myers Squibb by 66.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock valued at $35,000 after purchasing an additional 231 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Insiders Place Their Bets

In other Bristol Myers Squibb 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 owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BMY. Citigroup reduced their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. Finally, Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Trading Up 5.1%

NYSE BMY opened at $47.39 on Thursday. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a 50 day simple moving average of $46.49 and a two-hundred day simple moving average of $48.85. The stock has a market cap of $96.47 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 2.31 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released 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 return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter last year, the business posted $2.07 EPS. The business's 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, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be issued a $0.62 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.2%. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

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.

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