Venture Visionary Partners LLC Cuts Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Venture Visionary Partners LLC reduced its stake in Bristol Myers Squibb by 47.3%, owning 60,276 shares worth approximately $2.79 million after selling 54,036 shares in the second quarter.
• Several large investors, including Wellington Management and GQG Partners, made significant increases to their holdings in Bristol Myers Squibb during the first quarter, highlighting a strong interest in the stock.
• Bristol Myers announced a quarterly dividend of $0.62 per share, representing a 5.6% yield, with its dividend payout ratio currently at 100%.

Venture Visionary Partners LLC lowered its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 47.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,276 shares of the biopharmaceutical company's stock after selling 54,036 shares during the quarter. Venture Visionary Partners LLC's holdings in Bristol Myers Squibb were worth $2,790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BMY. Wellington Management Group LLP increased its position in shares of Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock worth $1,447,198,000 after acquiring an additional 17,750,938 shares during the period. GQG Partners LLC grew its stake in shares of Bristol Myers Squibb by 22,647.6% during the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after purchasing an additional 11,970,598 shares in the last quarter. Nuveen LLC acquired a new position in shares of Bristol Myers Squibb during the first quarter worth $624,369,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Bristol Myers Squibb during the second quarter worth $98,898,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Bristol Myers Squibb by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after purchasing an additional 2,131,205 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BMY shares. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. Citigroup decreased their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Finally, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and a consensus price target of $56.38.

Insider Transactions at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president directly 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 SEC, which is available at this link. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $44.12 on Tuesday. 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 market capitalization of $89.80 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.26 and a beta of 0.35. The firm has a 50-day simple moving average of $46.58 and a 200-day simple moving average of $48.89. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results 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. The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued 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 is currently 100.00%.

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.

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