Apollon Wealth Management LLC Raises Stake in Bristol Myers Squibb Company $BMY

Apollon Wealth Management LLC boosted its position in Bristol Myers Squibb Company (NYSE:BMY) by 0.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 89,849 shares of the biopharmaceutical company’s stock after purchasing an additional 799 shares during the period. Apollon Wealth Management LLC’s holdings in Bristol Myers Squibb were worth $4,159,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Wealth Advisors LLC lifted its position in Bristol Myers Squibb by 180.9% in the second quarter. Fifth Third Wealth Advisors LLC now owns 42,626 shares of the biopharmaceutical company’s stock valued at $1,973,000 after purchasing an additional 27,453 shares during the last quarter. Conning Inc. lifted its position in Bristol Myers Squibb by 20.3% in the second quarter. Conning Inc. now owns 716,621 shares of the biopharmaceutical company’s stock valued at $33,172,000 after purchasing an additional 120,894 shares during the last quarter. Trust Co. of Toledo NA OH lifted its position in Bristol Myers Squibb by 1.7% in the second quarter. Trust Co. of Toledo NA OH now owns 47,935 shares of the biopharmaceutical company’s stock valued at $2,219,000 after purchasing an additional 795 shares during the last quarter. Aberdeen Group plc lifted its position in Bristol Myers Squibb by 8.7% in the second quarter. Aberdeen Group plc now owns 3,093,360 shares of the biopharmaceutical company’s stock valued at $143,810,000 after purchasing an additional 246,366 shares during the last quarter. Finally, JB Capital LLC lifted its position in Bristol Myers Squibb by 7.6% in the second quarter. JB Capital LLC now owns 5,579 shares of the biopharmaceutical company’s stock valued at $258,000 after purchasing an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on BMY shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research report on Tuesday, August 5th. Finally, Citigroup decreased their target price 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. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Hold” and a consensus price target of $57.14.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of the company’s 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by insiders.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $44.01 on Friday. The company has a market cap of $89.57 billion, a PE ratio of 17.74, a P/E/G ratio of 2.25 and a beta of 0.33. The business has a 50 day moving average of $46.26 and a 200 day moving average of $48.03. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly 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 company 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 firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period 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. As a group, equities research analysts forecast 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 paid a $0.62 dividend. 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 presently 100.00%.

About Bristol Myers Squibb

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.