AlphaQuest LLC Buys 14,325 Shares of Bristol Myers Squibb Company $BMY

AlphaQuest LLC raised its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 310.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,944 shares of the biopharmaceutical company’s stock after buying an additional 14,325 shares during the period. AlphaQuest LLC’s holdings in Bristol Myers Squibb were worth $877,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Bristol Myers Squibb by 2.1% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,145,653 shares of the biopharmaceutical company’s stock worth $238,192,000 after purchasing an additional 103,608 shares in the last quarter. West Michigan Advisors LLC purchased a new position in Bristol Myers Squibb during the second quarter valued at $370,000. Harbour Investment Management LLC lifted its position in Bristol Myers Squibb by 2.4% during the second quarter. Harbour Investment Management LLC now owns 30,338 shares of the biopharmaceutical company’s stock valued at $1,404,000 after purchasing an additional 718 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Bristol Myers Squibb by 18,263.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,060 shares of the biopharmaceutical company’s stock valued at $281,000 after purchasing an additional 6,027 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Bristol Myers Squibb by 4.3% during the second quarter. Asset Management One Co. Ltd. now owns 976,025 shares of the biopharmaceutical company’s stock valued at $45,180,000 after purchasing an additional 39,965 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Finally, Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb has an average rating of “Hold” and a consensus price target of $57.23.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

Bristol Myers Squibb Trading Up 0.0%

NYSE BMY opened at $43.84 on Monday. 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 company has a market capitalization of $89.24 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 2.29 and a beta of 0.33. The company’s 50-day simple moving average is $45.75 and its two-hundred day simple moving average is $47.05. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter last year, the firm posted $2.07 EPS. The company’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. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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 given a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.7%. Bristol Myers Squibb’s payout ratio is presently 100.00%.

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.