Alpine Bank Wealth Management Lowers Position in Bristol Myers Squibb Company $BMY

Alpine Bank Wealth Management cut its stake in Bristol Myers Squibb Company (NYSE:BMY) by 4.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,638 shares of the biopharmaceutical company’s stock after selling 472 shares during the period. Alpine Bank Wealth Management’s holdings in Bristol Myers Squibb were worth $492,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BMY. Wellington Management Group LLP lifted its holdings 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 during the period. GQG Partners LLC lifted its holdings in Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after buying an additional 11,970,598 shares during the period. Nuveen LLC purchased a new position in shares of Bristol Myers Squibb during the first quarter valued at approximately $624,369,000. GAMMA Investing LLC lifted its holdings in shares of Bristol Myers Squibb by 7,142.8% during the first quarter. GAMMA Investing LLC now owns 2,420,388 shares of the biopharmaceutical company’s stock valued at $147,619,000 after purchasing an additional 2,386,970 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Bristol Myers Squibb during the second quarter valued at approximately $98,898,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on BMY. 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 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. Wall Street Zen lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Daiwa Capital Markets lowered 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 report on Tuesday, August 5th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.38.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction dated 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 owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Price Performance

NYSE BMY opened at $44.12 on Monday. The company has a 50-day moving average price of $46.63 and a 200-day moving average price of $49.00. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. 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 $89.80 billion, a P/E ratio of 17.79, a PEG ratio of 2.26 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $11.32 billion. During the same period in the previous year, the business posted $2.07 earnings per share. The firm’s quarterly 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. Equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

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

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.