United Services Automobile Association Has $12.60 Million Holdings in Bristol Myers Squibb Company $BMY

Key Points

• United Services Automobile Association reduced its stake in Bristol Myers Squibb by 44.8%, selling 170,205 shares and ending with 209,980 shares valued at approximately $12.6 million.
• The company's recent earnings report showed $1.46 EPS, surpassing analyst estimates, with revenue of $12.27 billion for the quarter, indicating a 0.6% year-over-year increase.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share, with a 5.3% yield, maintaining a payout ratio of 100%.

United Services Automobile Association trimmed its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 44.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,980 shares of the biopharmaceutical company's stock after selling 170,205 shares during the period. United Services Automobile Association's holdings in Bristol Myers Squibb were worth $12,603,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. New England Asset Management Inc. raised its position in shares of Bristol Myers Squibb by 0.8% in the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock valued at $2,408,000 after purchasing an additional 305 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Bristol Myers Squibb by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock valued at $78,580,000 after purchasing an additional 13,959 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $16,651,000. Avaii Wealth Management LLC raised its position in shares of Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock valued at $4,794,000 after purchasing an additional 67,221 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Bristol Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock valued at $3,967,000 after purchasing an additional 869 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction 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 transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Bristol Myers Squibb Price Performance

BMY stock traded down $1.32 during trading hours on Friday, hitting $46.22. 11,889,297 shares of the stock traded hands, compared to its average volume of 12,972,047. The stock has a 50-day simple moving average of $47.09 and a 200 day simple moving average of $50.26. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The company has a market cap of $94.08 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.41 and a beta of 0.35. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released 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. 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 analyst estimates of $11.32 billion. During the same quarter last 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. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a $0.62 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. Bristol Myers Squibb's dividend payout ratio (DPR) is 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.