Bristol Myers Squibb Company $BMY Stake Lessened by Ellis Investment Partners LLC

Ellis Investment Partners LLC lowered its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 17.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,321 shares of the biopharmaceutical company’s stock after selling 919 shares during the period. Ellis Investment Partners LLC’s holdings in Bristol Myers Squibb were worth $200,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BMY. Wellington Management Group LLP lifted its holdings in shares of Bristol Myers Squibb by 297.0% in the first 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 in the last quarter. GQG Partners LLC raised its holdings in shares of Bristol Myers Squibb by 22,647.6% during the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after acquiring an additional 11,970,598 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Bristol Myers Squibb during the first quarter worth $624,369,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Bristol Myers Squibb during the second quarter worth $98,898,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Bristol Myers Squibb by 8.6% during the first 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. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity

In other 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 value of $2,650,480.00. Following the sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a report on Saturday, September 27th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective for the company. in a report on Tuesday, August 5th. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday. Finally, Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $57.14.

Bristol Myers Squibb Trading Down 0.9%

Shares of NYSE:BMY opened at $43.55 on Tuesday. The company has a market cap of $88.63 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.26 and a beta of 0.33. The stock’s 50-day moving average is $46.22 and its 200-day moving average is $47.84. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 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.