Adams Asset Advisors LLC Sells 23,295 Shares of Bristol Myers Squibb Company $BMY

Adams Asset Advisors LLC trimmed its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 15.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 124,472 shares of the biopharmaceutical company’s stock after selling 23,295 shares during the quarter. Adams Asset Advisors LLC’s holdings in Bristol Myers Squibb were worth $5,762,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of 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 worth $11,673,669,000 after buying an additional 1,458,488 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Bristol Myers Squibb by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock worth $3,696,415,000 after buying an additional 306,430 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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 buying an additional 2,131,205 shares during the last quarter. Northern Trust Corp raised its stake 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 worth $1,584,185,000 after buying an additional 1,316,144 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Bristol Myers Squibb by 297.0% during 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 during the last quarter. 76.41% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction on 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 completion of the sale, the executive vice president owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on BMY. Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Citigroup lowered their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, August 1st. Daiwa Capital Markets downgraded 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 research note on Tuesday, August 5th. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $56.38.

Bristol Myers Squibb Stock Down 2.8%

Shares of BMY stock opened at $46.22 on Monday. The firm has a fifty day moving average of $47.08 and a 200-day moving average of $50.07. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The company has a market capitalization of $94.08 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 2.36 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the prior year, the firm earned $2.07 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

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.