Boyar Asset Management Inc. Trims Stock Holdings in Bristol Myers Squibb Company $BMY

Boyar Asset Management Inc. cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 7.3% during the second quarter, Holdings Channel reports. The firm owned 23,165 shares of the biopharmaceutical company’s stock after selling 1,828 shares during the quarter. Boyar Asset Management Inc.’s holdings in Bristol Myers Squibb were worth $1,072,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BMY. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb during the first quarter worth about $31,000. Accent Capital Management LLC acquired a new position in Bristol Myers Squibb in the first quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC boosted its holdings in Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 231 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new stake in shares of Bristol Myers Squibb in the first quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its holdings in shares of Bristol Myers Squibb by 51.9% in the second quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 267 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday. Citigroup lowered their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.38.

Bristol Myers Squibb Stock Down 0.7%

Shares of NYSE:BMY opened at $45.39 on Friday. The stock’s 50-day moving average price is $46.36 and its two-hundred day moving average price is $48.65. The firm has a market cap of $92.38 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.34 and a beta of 0.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $2.07 EPS. 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 year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 100.00%.

Insider Activity at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the firm’s 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 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 filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Bristol Myers Squibb 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.