Advocate Group LLC Acquires 7,088 Shares of Bristol Myers Squibb Company $BMY

Advocate Group LLC raised its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,239 shares of the biopharmaceutical company’s stock after purchasing an additional 7,088 shares during the period. Advocate Group LLC’s holdings in Bristol Myers Squibb were worth $7,140,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Trifecta Capital Advisors LLC bought a new position in shares of Bristol Myers Squibb in the 2nd quarter worth approximately $25,000. REAP Financial Group LLC raised its position in shares of Bristol Myers Squibb by 202.8% in the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 428 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb in the 1st quarter worth approximately $31,000. Accent Capital Management LLC bought a new position in shares of Bristol Myers Squibb in the 1st quarter worth approximately $33,000. Finally, CBIZ Investment Advisory Services LLC raised its position in shares of Bristol Myers Squibb by 66.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 231 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 1.5%

BMY stock opened at $44.01 on Friday. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. 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 firm has a market cap of $89.57 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.25 and a beta of 0.33. The business has a 50 day moving average of $46.26 and a 200 day moving average of $48.03.

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

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.6%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 100.00%.

Insider Buying and Selling

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 transaction of $2,650,480.00. Following the sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of several research reports. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Finally, Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating 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 fifteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $57.14.

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.