Westbourne Investments Inc. Boosts Stake in Bristol Myers Squibb Company $BMY

Key Points

• Westbourne Investments Inc. increased its stake in Bristol Myers Squibb by 176.7%, owning 35,495 shares valued at $2.17 million, making it the 21st largest holding in their portfolio.
• Insider David V. Elkins sold 56,000 shares of Bristol Myers Squibb, reducing his position by 25.07% and bringing his total ownership to 167,379 shares.
• Bristol Myers Squibb reported a quarterly EPS of $1.46, surpassing estimates, with a revenue of $12.27 billion, up 0.6% year-over-year.

Westbourne Investments Inc. increased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 176.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,495 shares of the biopharmaceutical company's stock after acquiring an additional 22,665 shares during the period. Bristol Myers Squibb makes up 1.3% of Westbourne Investments Inc.'s portfolio, making the stock its 21st biggest position. Westbourne Investments Inc.'s holdings in Bristol Myers Squibb were worth $2,165,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Bristol Myers Squibb by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock worth $11,673,669,000 after purchasing an additional 1,458,488 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Bristol Myers Squibb by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock worth $3,696,415,000 after acquiring an additional 306,430 shares during the period. Bank of New York Mellon Corp increased its position in 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 acquiring an additional 2,131,205 shares during the period. Northern Trust Corp increased its holdings in Bristol Myers Squibb by 5.3% in the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company's stock valued at $1,584,185,000 after buying an additional 1,316,144 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after buying an additional 17,750,938 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Activity at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 sale, the executive vice president owned 167,379 shares of the company's stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BMY. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Citigroup cut their price objective on 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 America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Daiwa Capital Markets cut 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. Finally, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Stock Performance

NYSE:BMY traded down $1.32 during trading on Friday, reaching $46.22. The company's stock had a trading volume of 11,892,193 shares, compared to its average volume of 9,078,454. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month 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 firm has a 50 day moving average of $47.08 and a 200-day moving average of $50.13. The firm has a market cap of $94.08 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.43 and a beta of 0.35.

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 the consensus estimate of $1.07 by $0.39. The firm 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%.The company's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a $0.62 dividend. The ex-dividend date of this dividend 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 presently 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.