KG&L Capital Management LLC Buys 39,136 Shares of Bristol Myers Squibb Company $BMY

KG&L Capital Management LLC boosted its stake in Bristol Myers Squibb Company (NYSE:BMY) by 520.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,651 shares of the biopharmaceutical company’s stock after purchasing an additional 39,136 shares during the quarter. KG&L Capital Management LLC’s holdings in Bristol Myers Squibb were worth $2,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. TOWER TRUST & INVESTMENT Co boosted its stake in Bristol Myers Squibb by 2.7% in the 2nd quarter. TOWER TRUST & INVESTMENT Co now owns 10,142 shares of the biopharmaceutical company’s stock worth $469,000 after purchasing an additional 270 shares during the period. Diversified Enterprises LLC boosted its stake in Bristol Myers Squibb by 58.5% in the 2nd quarter. Diversified Enterprises LLC now owns 8,037 shares of the biopharmaceutical company’s stock worth $372,000 after purchasing an additional 2,966 shares during the period. Brown Lisle Cummings Inc. boosted its position in shares of Bristol Myers Squibb by 13.5% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 19,000 shares of the biopharmaceutical company’s stock valued at $880,000 after acquiring an additional 2,262 shares during the last quarter. Kendall Capital Management boosted its position in shares of Bristol Myers Squibb by 17.3% during the 2nd quarter. Kendall Capital Management now owns 55,752 shares of the biopharmaceutical company’s stock valued at $2,581,000 after acquiring an additional 8,210 shares during the last quarter. Finally, Cove Private Wealth LLC boosted its position in shares of Bristol Myers Squibb by 17.8% during the 2nd quarter. Cove Private Wealth LLC now owns 13,365 shares of the biopharmaceutical company’s stock valued at $619,000 after acquiring an additional 2,020 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $44.12 on Friday. The business has a 50 day moving average of $46.63 and a 200 day moving average of $49.07. The company has a market capitalization of $89.80 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 2.26 and a beta of 0.35. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.Bristol Myers Squibb’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 100.00%.

Insider Buying and Selling

In other Bristol Myers Squibb 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 sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

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

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.