Bristol Myers Squibb Company $BMY Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. trimmed its position in Bristol Myers Squibb Company (NYSE:BMY) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,454 shares of the biopharmaceutical company’s stock after selling 1,266 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Bristol Myers Squibb were worth $762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Bristol Myers Squibb by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock valued at $11,673,669,000 after purchasing an additional 1,458,488 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Bristol Myers Squibb by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock valued at $3,696,415,000 after purchasing an additional 306,430 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Bristol Myers Squibb by 8.6% during 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 acquiring an additional 2,131,205 shares in the last quarter. Northern Trust Corp raised its stake in 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 worth $1,584,185,000 after acquiring an additional 1,316,144 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in 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 worth $1,447,198,000 after acquiring an additional 17,750,938 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on BMY. Citigroup cut their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Wall Street Zen lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.38.

Bristol Myers Squibb Trading Down 0.7%

NYSE BMY opened at $45.39 on Friday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The firm has a market cap of $92.38 billion, a PE ratio of 18.30, a P/E/G ratio of 2.34 and a beta of 0.33. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The firm’s fifty day moving average is $46.36 and its two-hundred day moving average is $48.65.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share 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 the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 owned 167,379 shares of the company’s stock, valued at $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 is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

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.