Bristol Myers Squibb Company $BMY Position Lifted by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC increased its position in Bristol Myers Squibb Company (NYSE:BMY) by 438.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 307,849 shares of the biopharmaceutical company’s stock after purchasing an additional 250,624 shares during the period. Bristol Myers Squibb accounts for about 1.1% of Sound View Wealth Advisors Group LLC’s investment portfolio, making the stock its 24th biggest holding. Sound View Wealth Advisors Group LLC’s holdings in Bristol Myers Squibb were worth $14,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BMY. Vanguard Group Inc. grew its position in shares of Bristol Myers Squibb by 0.8% during the 1st 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. grew its holdings in Bristol Myers Squibb by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock worth $3,696,415,000 after buying an additional 306,430 shares in the last quarter. Northern Trust Corp grew its stake 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 worth $1,584,185,000 after purchasing an additional 1,316,144 shares in the last quarter. Wellington Management Group LLP increased its stake in Bristol Myers Squibb by 297.0% during the 1st 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 period. Finally, Primecap Management Co. CA increased its stake in shares of Bristol Myers Squibb by 0.9% during the first quarter. Primecap Management Co. CA now owns 22,970,633 shares of the biopharmaceutical company’s stock valued at $1,400,979,000 after acquiring an additional 197,453 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. One 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.23.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $46.74 on Friday. The business has a 50 day moving average price of $45.25 and a 200 day moving average price of $46.69. The company has a market cap of $95.14 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.23 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its 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. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Research 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 was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 83.78%.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the business’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 sale, the executive vice president 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 SEC, which can be accessed through this link. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb Profile

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.