BankPlus Trust Department Grows Stake in Bristol Myers Squibb Company $BMY

BankPlus Trust Department increased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 11.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 34,261 shares of the biopharmaceutical company’s stock after acquiring an additional 3,585 shares during the period. BankPlus Trust Department’s holdings in Bristol Myers Squibb were worth $1,586,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BMY. Vanguard Group Inc. boosted its stake in 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 valued at $11,673,669,000 after buying an additional 1,458,488 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $3,696,415,000 after buying an additional 306,430 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in 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 valued at $1,638,501,000 after buying an additional 2,131,205 shares during the last quarter. Northern Trust Corp boosted its stake in 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 valued at $1,584,185,000 after buying an additional 1,316,144 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in 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 valued at $1,447,198,000 after buying an additional 17,750,938 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. 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 note on Friday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Daiwa Capital Markets lowered 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. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Daiwa America lowered 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, five have given a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.14.

Bristol Myers Squibb Price Performance

Shares of BMY stock opened at $44.63 on Wednesday. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The firm has a market capitalization of $90.84 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.31 and a beta of 0.33. The stock has a 50 day moving average price of $46.27 and a 200 day moving average price of $48.36.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates 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 period last year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.6%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 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.