Blume Capital Management Inc. Reduces Holdings in Bristol Myers Squibb Company $BMY

Blume Capital Management Inc. reduced its position in Bristol Myers Squibb Company (NYSE:BMY) by 25.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,504 shares of the biopharmaceutical company’s stock after selling 503 shares during the period. Blume Capital Management Inc.’s holdings in Bristol Myers Squibb were worth $70,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after acquiring an additional 4,935 shares during the last quarter. GAMMA Investing LLC grew its position in Bristol Myers Squibb by 18.8% during the 1st quarter. GAMMA Investing LLC now owns 39,685 shares of the biopharmaceutical company’s stock worth $2,420,000 after purchasing an additional 6,267 shares during the last quarter. Advisor Resource Council purchased a new position in Bristol Myers Squibb during the 1st quarter worth $245,000. JFS Wealth Advisors LLC increased its stake in Bristol Myers Squibb by 12.4% in the first quarter. JFS Wealth Advisors LLC now owns 3,623 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 401 shares during the period. Finally, Continuum Advisory LLC raised its holdings in shares of Bristol Myers Squibb by 88.6% in the first quarter. Continuum Advisory LLC now owns 3,268 shares of the biopharmaceutical company’s stock valued at $199,000 after buying an additional 1,535 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BMY shares. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $57.23.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $44.54 on Wednesday. The firm’s fifty day simple moving average is $45.99 and its 200-day simple moving average is $47.30. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The stock has a market cap of $90.66 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.26 and a beta of 0.33. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates 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 firm 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 firm earned $2.07 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts expect 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 disclosed 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 (DPR) is presently 100.00%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.