Pinnacle West Asset Management Inc. Makes New Investment in Bristol Myers Squibb Company $BMY

Posted by Stanley Muller on Aug 22nd, 2026

Pinnacle West Asset Management Inc. bought a new stake in Bristol Myers Squibb Company (NYSE:BMY – Free Report) during the 2nd quarter, Holdings Channel reports. The firm bought 14,400 shares of the biopharmaceutical company’s stock, valued at approximately $830,000.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its position in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after buying an additional 4,935 shares during the last quarter. Sivia Capital Partners LLC raised its position in Bristol Myers Squibb by 59.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,477 shares of the biopharmaceutical company’s stock worth $346,000 after buying an additional 2,786 shares during the last quarter. United Bank lifted its stake in shares of Bristol Myers Squibb by 15.0% in the 2nd quarter. United Bank now owns 25,148 shares of the biopharmaceutical company’s stock worth $1,164,000 after acquiring an additional 3,277 shares during the period. Marshall Wace LLP acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth $221,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of Bristol Myers Squibb in the second quarter valued at about $405,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on BMY shares. Truist Financial reissued a “buy” rating and set a $70.00 price target (up from $65.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. TD Cowen started coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They set a “buy” rating on the stock. UBS Group downgraded Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 5th. Bank of America decreased their price target on Bristol Myers Squibb from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Finally, Raymond James Financial assumed coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They set a “strong-buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.06.

Get Our Latest Report on Bristol Myers Squibb

Trending Headlines about Bristol Myers Squibb

Here are the key news stories impacting Bristol Myers Squibb this week:

Positive Sentiment: Bristol Myers Squibb plans to invest approximately $2.3 billion in a new Houston manufacturing facility, part of a broader $40 billion U.S. investment commitment. The project reinforces BMY’s confidence in domestic production capacity and could support long-term operational growth. Bristol-Myers Squibb Bets $2.3 Billion on Texas
Positive Sentiment: BMY is collaborating with Chai Discovery on artificial-intelligence-driven antibody discovery. The partnership could help identify novel therapeutic candidates more efficiently and strengthens the company’s efforts to modernize its drug-development platform. Chai Discovery Collaboration
Positive Sentiment: The company is launching a Phase 1 study of an early Alzheimer’s disease antibody. Although the program remains highly experimental, it adds another potential long-term growth opportunity to BMY’s pipeline. Early Alzheimer’s Antibody Study
Positive Sentiment: Strong Eliquis performance is helping offset declines in BMY’s older products facing generic pressure, supporting a more favorable 2026 revenue outlook. Elevated call-option activity also signals increased bullish interest, though it is not a fundamental guarantee. Eliquis and Legacy Portfolio Analysis
Neutral Sentiment: Early clinical work on navlimetostat shows continued pipeline activity, but the Phase 1-stage program has not yet produced efficacy data that would materially change near-term earnings expectations. Navlimetostat Study Update
Negative Sentiment: Generic competition remains a key risk for BMY’s legacy portfolio. Investors must determine whether Eliquis growth and newer pipeline assets can replace revenue lost as established medicines face erosion. Legacy Portfolio Erosion Analysis

Bristol Myers Squibb Trading Up 2.4%

Shares of BMY opened at $67.06 on Friday. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $68.64. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $136.98 billion, a P/E ratio of 14.77, a PEG ratio of 0.17 and a beta of 0.22. The firm’s 50-day moving average is $60.55 and its two-hundred day moving average is $59.37.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.44. The company had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, research analysts predict that Bristol Myers Squibb Company will post 6.95 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, July 2nd. Bristol Myers Squibb’s payout ratio is presently 55.51%.

About Bristol Myers Squibb

(Free Report)

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.