Van Cleef Asset Management Inc Sells 1,439 Shares of Bristol Myers Squibb Company $BMY

Van Cleef Asset Management Inc decreased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,246 shares of the biopharmaceutical company’s stock after selling 1,439 shares during the period. Van Cleef Asset Management Inc’s holdings in Bristol Myers Squibb were worth $567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Beacon Investment Advisory Services Inc. increased its holdings in Bristol Myers Squibb by 2.7% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock worth $492,000 after purchasing an additional 212 shares in the last quarter. Exchange Capital Management Inc. boosted its position in shares of Bristol Myers Squibb by 0.4% during the second quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock worth $2,541,000 after buying an additional 220 shares during the period. Parsons Capital Management Inc. RI grew its holdings in shares of Bristol Myers Squibb by 0.3% during the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock worth $3,615,000 after buying an additional 224 shares in the last quarter. Richwood Investment Advisors LLC raised its position in Bristol Myers Squibb by 1.7% in the 2nd quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock valued at $616,000 after buying an additional 225 shares during the last quarter. Finally, Lipe & Dalton raised its position in Bristol Myers Squibb by 0.4% in the 1st quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company’s stock valued at $3,476,000 after buying an additional 230 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BMY shares. 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. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $57.23.

Bristol Myers Squibb Stock Up 0.2%

Shares of BMY opened at $46.74 on Friday. The firm has a 50 day simple moving average of $45.25 and a two-hundred day simple moving average of $46.72. 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 $42.52 and a one year high of $63.33. The company has a market cap of $95.14 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter last year, the business posted $1.80 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Research 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 announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.3%. Bristol Myers Squibb’s payout ratio is presently 83.78%.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $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 accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

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.