Hudson Valley Investment Advisors Inc. ADV Sells 4,220 Shares of Bristol Myers Squibb Company $BMY

Hudson Valley Investment Advisors Inc. ADV decreased its stake in Bristol Myers Squibb Company (NYSE:BMY) by 41.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,989 shares of the biopharmaceutical company’s stock after selling 4,220 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Bristol Myers Squibb were worth $277,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Bristol Myers Squibb by 0.8% in the first 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. raised its position in shares of Bristol Myers Squibb by 0.5% in the first 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 during the period. Bank of New York Mellon Corp raised its position in shares of Bristol Myers Squibb by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock valued at $1,638,501,000 after purchasing an additional 2,131,205 shares during the period. Northern Trust Corp raised its position in shares of Bristol Myers Squibb by 5.3% in 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 purchasing an additional 1,316,144 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of 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 valued at $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. Institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling

In other news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were 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 of the company’s stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BMY has been the topic of several research reports. Citigroup lowered 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. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday. Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Finally, Daiwa Capital Markets cut shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.38.

Bristol Myers Squibb Price Performance

BMY stock opened at $45.39 on Friday. 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 Company has a one year low of $42.96 and a one year high of $63.33. The stock has a market cap of $92.38 billion, a PE ratio of 18.30, a P/E/G ratio of 2.34 and a beta of 0.33. The firm has a 50 day simple moving average of $46.36 and a two-hundred day simple moving average of $48.65.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping 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 analysts’ expectations of $11.32 billion. During the same quarter in the previous year, the company earned $2.07 EPS. The business’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. On average, analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is currently 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.