Korea Investment CORP Sells 393,981 Shares of Bristol Myers Squibb Company $BMY

Korea Investment CORP lowered its position in Bristol Myers Squibb Company (NYSE:BMY) by 19.3% during the 2nd quarter, Holdings Channel reports. The fund owned 1,644,045 shares of the biopharmaceutical company’s stock after selling 393,981 shares during the period. Korea Investment CORP’s holdings in Bristol Myers Squibb were worth $76,103,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings 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 in the last quarter. GQG Partners LLC raised its stake in shares of Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after purchasing an additional 11,970,598 shares during the period. Nuveen LLC purchased a new stake in Bristol Myers Squibb during the first quarter worth about $624,369,000. Charles Schwab Investment Management Inc. increased its stake in shares of Bristol Myers Squibb by 16.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after purchasing an additional 10,195,775 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Bristol Myers Squibb by 142.8% in the second quarter. Franklin Resources Inc. now owns 8,436,811 shares of the biopharmaceutical company’s stock valued at $390,541,000 after purchasing an additional 4,961,869 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Stock Up 0.6%

Shares of Bristol Myers Squibb stock opened at $49.33 on Friday. The company’s 50 day moving average price is $45.51 and its 200-day moving average price is $46.62. Bristol Myers Squibb Company has a 52-week low of $42.52 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 stock has a market capitalization of $100.43 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.52 by $0.11. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 83.78%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BMY. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday. Citigroup dropped their price target on Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, November 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $54.42.

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.