World Investment Advisors Trims Position in Bristol Myers Squibb Company $BMY

World Investment Advisors lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 7.1% during the second quarter, HoldingsChannel reports. The firm owned 54,673 shares of the biopharmaceutical company’s stock after selling 4,206 shares during the quarter. World Investment Advisors’ holdings in Bristol Myers Squibb were worth $2,531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BMY. Wellington Management Group LLP increased its stake in shares of Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after acquiring an additional 17,750,938 shares during the last quarter. GQG Partners LLC increased its stake in shares of Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock valued at $733,310,000 after acquiring an additional 11,970,598 shares during the last quarter. Nuveen LLC purchased a new position in shares of Bristol Myers Squibb in the 1st quarter worth $624,369,000. Kingstone Capital Partners Texas LLC purchased a new position in shares of Bristol Myers Squibb in the 2nd quarter worth $98,898,000. Finally, Bank of New York Mellon Corp raised its position in shares of Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock worth $1,638,501,000 after buying an additional 2,131,205 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated 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 of the company’s stock, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BMY. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Finally, Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. One investment 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 company. Based on data from MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb Stock Up 7.1%

Shares of NYSE:BMY opened at $45.63 on Friday. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33. The company has a market capitalization of $92.88 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The company has a 50 day moving average of $45.37 and a two-hundred day moving average of $46.86.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is presently 100.00%.

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.