SouthState Corp Reduces Stake in Bristol Myers Squibb Company $BMY

SouthState Corp cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,924 shares of the biopharmaceutical company’s stock after selling 1,680 shares during the period. SouthState Corp’s holdings in Bristol Myers Squibb were worth $1,246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Vanguard Group Inc. increased its position in Bristol Myers Squibb by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock valued at $11,673,669,000 after purchasing an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 in the last quarter. Northern Trust Corp increased its position in shares of Bristol Myers Squibb by 5.3% during the first quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock valued at $1,584,185,000 after buying an additional 1,316,144 shares during the period. Wellington Management Group LLP raised its stake in 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 worth $1,447,198,000 after buying an additional 17,750,938 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in Bristol Myers Squibb by 0.9% in the first quarter. Primecap Management Co. CA now owns 22,970,633 shares of the biopharmaceutical company’s stock worth $1,400,979,000 after buying an additional 197,453 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BMY has been the topic of a number of research analyst reports. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Finally, Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $57.23.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $46.70 on Friday. The business has a fifty day moving average price of $45.26 and a 200-day moving average price of $46.73. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market capitalization of $95.07 billion, a PE ratio of 18.83, a PEG ratio of 2.23 and a beta of 0.33. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the business posted $1.80 EPS. 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. As a group, equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 83.78%.

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.