Pinnacle Wealth Management Advisory Group LLC Decreases Position in Bristol Myers Squibb Company $BMY

Pinnacle Wealth Management Advisory Group LLC reduced its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 14.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,824 shares of the biopharmaceutical company’s stock after selling 3,095 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Bristol Myers Squibb were worth $825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trifecta Capital Advisors LLC acquired a new position in Bristol Myers Squibb in the 2nd quarter valued at $25,000. Accent Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb during the first quarter worth $33,000. CBIZ Investment Advisory Services LLC raised its position in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 231 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new position in shares of Bristol Myers Squibb in the first quarter worth about $36,000. Finally, REAP Financial Group LLC boosted its position in Bristol Myers Squibb by 202.8% during the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $46.74 on Monday. The business has a 50-day simple moving average of $45.25 and a 200-day simple moving average of $46.68. The company has a market cap of $95.14 billion, a PE ratio of 18.85, a P/E/G ratio of 2.23 and a beta of 0.33. Bristol Myers Squibb Company has a one year low of $42.52 and a one year 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.

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

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is 83.78%.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BMY. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb has an average rating of “Hold” and an average price target of $57.23.

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.