SouthState Corp Sells 1,680 Shares of Bristol Myers Squibb Company $BMY

SouthState Corp trimmed its position in Bristol Myers Squibb Company (NYSE:BMY) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,924 shares of the biopharmaceutical company’s stock after selling 1,680 shares during the period. SouthState Corp’s holdings in Bristol Myers Squibb were worth $1,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BMY. Vanguard Group Inc. grew its position in Bristol Myers Squibb by 0.8% during the first quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock valued at $11,673,669,000 after buying an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Bristol Myers Squibb by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock worth $3,696,415,000 after acquiring an additional 306,430 shares during the last quarter. Northern Trust Corp grew its position in shares of Bristol Myers Squibb by 5.3% during the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock valued at $1,584,185,000 after acquiring an additional 1,316,144 shares during the period. Wellington Management Group LLP increased its stake in shares of Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares in the last quarter. Finally, Primecap Management Co. CA raised its holdings in Bristol Myers Squibb by 0.9% in the 1st quarter. Primecap Management Co. CA now owns 22,970,633 shares of the biopharmaceutical company’s stock worth $1,400,979,000 after purchasing an additional 197,453 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Transactions at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were 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 in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by insiders.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $46.70 on Friday. The firm has a market cap of $95.07 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 2.23 and a beta of 0.33. The firm has a fifty day moving average price of $45.26 and a 200 day moving average price of $46.73. Bristol Myers Squibb Company has a fifty-two week low of $42.52 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, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the company earned $1.80 EPS. The business’s quarterly revenue 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, 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 firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.3%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s payout ratio is currently 83.78%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Finally, Daiwa Capital Markets cut shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus target price of $57.23.

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.