Hartford Investment Management Co. Has $5.68 Million Position in Bristol Myers Squibb Company $BMY

Hartford Investment Management Co. cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,734 shares of the biopharmaceutical company’s stock after selling 1,060 shares during the period. Hartford Investment Management Co.’s holdings in Bristol Myers Squibb were worth $5,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at $26,000. Global Wealth Strategies & Associates grew its position in shares of Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $31,000. Accent Capital Management LLC bought a new position in shares of Bristol Myers Squibb during the first quarter worth about $33,000. Finally, CBIZ Investment Advisory Services LLC lifted its stake in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 231 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup dropped their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.38.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $43.45 on Friday. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The stock’s 50 day moving average is $46.70 and its 200-day moving average is $49.27. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $88.44 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.26 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly 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 during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the previous year, the business posted $2.07 EPS. Bristol Myers Squibb’s quarterly revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 annualized dividend and a yield of 5.7%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 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.