Bristol Myers Squibb Company $BMY Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 350,738 shares of the biopharmaceutical company’s stock after selling 15,045 shares during the quarter. Wealthfront Advisers LLC’s holdings in Bristol Myers Squibb were worth $16,236,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New England Asset Management Inc. increased its position in Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock worth $2,408,000 after purchasing an additional 305 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Bristol Myers Squibb by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after acquiring an additional 13,959 shares during the period. Sage Capital Advisors llc boosted its holdings in Bristol Myers Squibb by 60.7% in the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock worth $3,946,000 after acquiring an additional 32,181 shares during the period. Ransom Advisory Ltd purchased a new position in Bristol Myers Squibb in the 1st quarter worth approximately $843,000. Finally, Castle Rock Wealth Management LLC boosted its holdings in Bristol Myers Squibb by 458.2% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 44,559 shares of the biopharmaceutical company’s stock worth $2,088,000 after acquiring an additional 36,576 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the 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 trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb Stock Performance

BMY stock opened at $43.84 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm has a market cap of $89.24 billion, a P/E ratio of 17.68, a P/E/G ratio of 2.29 and a beta of 0.33. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The stock’s 50 day simple moving average is $45.75 and its 200 day simple moving average is $47.05.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.7%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BMY. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note 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, Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.