Grassi Investment Management Sells 750 Shares of Bristol Myers Squibb Company $BMY

Grassi Investment Management decreased its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,610 shares of the biopharmaceutical company’s stock after selling 750 shares during the period. Grassi Investment Management’s holdings in Bristol Myers Squibb were worth $4,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BMY. Vanguard Group Inc. raised its holdings 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 acquiring an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. raised its stake in 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 valued at $3,696,415,000 after purchasing an additional 306,430 shares during the period. 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 valued at $1,638,501,000 after purchasing an additional 2,131,205 shares during the period. 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 valued at $1,584,185,000 after purchasing an additional 1,316,144 shares during the period. 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 valued at $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Tuesday, August 5th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday. Finally, Citigroup reduced their price objective on 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bristol Myers Squibb has a consensus rating of “Hold” and a consensus target price of $56.38.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This 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. 0.09% of the stock is owned by company insiders.

Bristol Myers Squibb Trading Down 0.7%

Shares of NYSE BMY opened at $45.39 on Friday. The business’s 50 day moving average is $46.36 and its two-hundred day moving average is $48.65. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The stock has a market capitalization of $92.38 billion, a P/E ratio of 18.30, a PEG ratio of 2.34 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, research analysts expect 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. Shareholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.5%. Bristol Myers Squibb’s payout ratio is 100.00%.

About Bristol Myers Squibb

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.