Patton Albertson Miller Group LLC Acquires 824 Shares of Bristol Myers Squibb Company $BMY

Patton Albertson Miller Group LLC boosted its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 17.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,574 shares of the biopharmaceutical company’s stock after purchasing an additional 824 shares during the period. Patton Albertson Miller Group LLC’s holdings in Bristol Myers Squibb were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol Myers Squibb in the first quarter valued at about $31,000. Accent Capital Management LLC purchased a new position in shares of Bristol Myers Squibb in the first quarter valued at about $33,000. CBIZ Investment Advisory Services LLC increased its position in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 231 shares during the period. GKV Capital Management Co. Inc. purchased a new position in shares of Bristol Myers Squibb in the first quarter valued at about $36,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of Bristol Myers Squibb in the first quarter valued at about $37,000. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BMY has been the topic of a number of analyst reports. 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. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Daiwa Capital Markets cut shares of 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 reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Citigroup reduced their price target on shares of 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. One investment 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 given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.38.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $44.12 on Monday. The stock has a market cap of $89.80 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.26 and a beta of 0.35. 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 Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm’s 50-day simple moving average is $46.63 and its two-hundred day simple moving average is $49.00.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations 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 revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. The ex-dividend date 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.