University of Texas Texas AM Investment Management Co. Acquires New Position in Bristol Myers Squibb Company $BMY

University of Texas Texas AM Investment Management Co. bought a new position in Bristol Myers Squibb Company (NYSE:BMY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,845 shares of the biopharmaceutical company’s stock, valued at approximately $502,000.

Several other institutional investors have also added to or reduced their stakes in BMY. Beacon Investment Advisory Services Inc. lifted its holdings in shares of Bristol Myers Squibb by 2.7% during the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock valued at $492,000 after purchasing an additional 212 shares in the last quarter. Exchange Capital Management Inc. boosted its stake in shares of Bristol Myers Squibb by 0.4% in the 2nd quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock worth $2,541,000 after buying an additional 220 shares during the last quarter. Parsons Capital Management Inc. RI boosted its position in Bristol Myers Squibb by 0.3% in the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock worth $3,615,000 after purchasing an additional 224 shares during the last quarter. Richwood Investment Advisors LLC increased its position in shares of Bristol Myers Squibb by 1.7% during the 2nd quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock valued at $616,000 after purchasing an additional 225 shares during the last quarter. Finally, Lipe & Dalton lifted its stake in shares of Bristol Myers Squibb by 0.4% in the 1st quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company’s stock worth $3,476,000 after purchasing an additional 230 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $43.84 on Friday. The firm has a market cap of $89.24 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 2.29 and a beta of 0.33. The firm has a fifty day moving average price of $45.75 and a 200 day moving average price of $47.10. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week 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.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the previous year, the firm posted $2.07 EPS. Bristol Myers Squibb’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, sell-side 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. Shareholders of record on Friday, October 3rd will be paid a $0.62 dividend. 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 5.7%. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Daiwa Capital Markets lowered 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Finally, Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $57.23.

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.