Financial Advocates Investment Management Sells 6,813 Shares of Bristol Myers Squibb Company $BMY

Financial Advocates Investment Management lowered its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 57.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,963 shares of the biopharmaceutical company’s stock after selling 6,813 shares during the period. Financial Advocates Investment Management’s holdings in Bristol Myers Squibb were worth $230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New England Asset Management Inc. raised its position in Bristol Myers Squibb by 0.8% in the first quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock worth $2,408,000 after purchasing an additional 305 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Bristol Myers Squibb by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after buying an additional 13,959 shares in the last quarter. Commonwealth Retirement Investments LLC lifted its position in shares of Bristol Myers Squibb by 24.6% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock worth $2,740,000 after buying an additional 11,690 shares during the period. Sound View Wealth Advisors Group LLC boosted its stake in Bristol Myers Squibb by 438.0% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 307,849 shares of the biopharmaceutical company’s stock valued at $14,250,000 after buying an additional 250,624 shares in the last quarter. Finally, Wealth Quarterback LLC grew its position in Bristol Myers Squibb by 42.6% in the second quarter. Wealth Quarterback LLC now owns 25,443 shares of the biopharmaceutical company’s stock valued at $1,178,000 after acquiring an additional 7,603 shares during the period. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday. BMO Capital Markets restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 17th. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Scotiabank began coverage on Bristol Myers Squibb in a report on Thursday, November 13th. They issued a “sector perform” rating and a $45.00 target price on the stock. Finally, Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $54.42.

Bristol Myers Squibb Stock Down 0.2%

Shares of NYSE BMY opened at $49.18 on Friday. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33. The firm’s 50-day moving average is $45.59 and its 200-day moving average is $46.63. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $100.11 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same period in the prior year, the business posted $1.80 earnings per share. Bristol Myers Squibb’s revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 83.78%.

Insiders Place Their Bets

In other Bristol Myers Squibb 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 transaction, the executive vice president owned 167,379 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

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.