Pinnacle Financial Partners Inc Sells 147,164 Shares of Bristol Myers Squibb Company $BMY

Pinnacle Financial Partners Inc reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 70.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 61,042 shares of the biopharmaceutical company’s stock after selling 147,164 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Bristol Myers Squibb were worth $2,753,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Gateway Investment Advisers LLC raised its position in shares of Bristol Myers Squibb by 10.0% during the third quarter. Gateway Investment Advisers LLC now owns 113,457 shares of the biopharmaceutical company’s stock valued at $5,117,000 after buying an additional 10,284 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in Bristol Myers Squibb by 25.9% in the 3rd quarter. CWA Asset Management Group LLC now owns 150,359 shares of the biopharmaceutical company’s stock valued at $6,781,000 after acquiring an additional 30,909 shares in the last quarter. Commonwealth Retirement Investments LLC grew its holdings in shares of Bristol Myers Squibb by 24.6% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock worth $2,740,000 after purchasing an additional 11,690 shares in the last quarter. Norges Bank acquired a new position in shares of Bristol Myers Squibb in the second quarter valued at $1,554,154,000. Finally, Stephens Inc. AR lifted its position in Bristol Myers Squibb by 13.5% in the third quarter. Stephens Inc. AR now owns 273,343 shares of the biopharmaceutical company’s stock worth $12,328,000 after purchasing an additional 32,476 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $55.30 on Friday. The stock has a market capitalization of $112.58 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 9.15 and a beta of 0.29. The firm’s 50-day moving average price is $51.91 and its two-hundred day moving average price is $48.13. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 2.39. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. Bristol Myers Squibb’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, equities analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be paid a $0.63 dividend. This is a boost from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, January 2nd. Bristol Myers Squibb’s payout ratio is presently 85.14%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BMY. Guggenheim reissued a “buy” rating on shares of Bristol Myers Squibb in a report on Tuesday, December 23rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Bank of America raised shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $61.00 in a research report on Monday, December 15th. Citigroup restated a “neutral” rating and set a $53.00 price target (up previously from $45.00) on shares of Bristol Myers Squibb in a research note on Wednesday, January 7th. Finally, Truist Financial set a $65.00 price objective on Bristol Myers Squibb in a research note on Wednesday, December 3rd. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Bristol Myers Squibb presently has an average rating of “Hold” and an average target price of $56.86.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.