Wealth Enhancement Advisory Services LLC Purchases 337,569 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Wealth Enhancement Advisory Services LLC increased its position in Bristol Myers Squibb by 61.3%, holding a total of 888,182 shares worth approximately $41.67 million after acquiring an additional 337,569 shares in the second quarter.
• Bristol Myers Squibb's shares are currently valued at $45.05, with a 52-week low of $42.96 and high of $63.33, alongside a market cap of $91.70 billion and a P/E ratio of 18.17.
• The company recently announced a quarterly dividend of $0.62 per share, totaling an annualized dividend of $2.48 with a dividend yield of 5.5%, which will be distributed on November 3rd.

Wealth Enhancement Advisory Services LLC increased its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 61.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 888,182 shares of the biopharmaceutical company's stock after purchasing an additional 337,569 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Bristol Myers Squibb were worth $41,673,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb during the 4th quarter worth $26,000. Global Wealth Strategies & Associates grew its stake in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Bristol Myers Squibb in the 1st quarter worth $31,000. Finally, Accent Capital Management LLC acquired a new position in Bristol Myers Squibb during the 1st quarter worth $33,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

NYSE BMY traded up $0.45 during trading on Tuesday, reaching $45.43. 2,055,528 shares of the company traded hands, compared to its average volume of 12,987,047. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company has a market cap of $92.48 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 2.30 and a beta of 0.35. The stock's 50 day moving average price is $46.88 and its two-hundred day moving average price is $49.47. 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 issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the previous year, the company earned $2.07 EPS. The firm's revenue for the quarter was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business 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 dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.5%. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.07% of the company's stock.

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.