Griffin Asset Management Inc. Sells 306 Shares of Bristol Myers Squibb Company $BMY

Griffin Asset Management Inc. lowered its position in Bristol Myers Squibb Company (NYSE:BMY) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 71,867 shares of the biopharmaceutical company’s stock after selling 306 shares during the period. Griffin Asset Management Inc.’s holdings in Bristol Myers Squibb were worth $3,327,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BMY. Wellington Management Group LLP boosted its holdings in Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after buying an additional 17,750,938 shares during the period. GQG Partners LLC boosted its holdings in Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after buying an additional 11,970,598 shares during the period. Nuveen LLC bought a new position in Bristol Myers Squibb in the 1st quarter worth $624,369,000. Kingstone Capital Partners Texas LLC bought a new position in Bristol Myers Squibb in the 2nd quarter worth $98,898,000. Finally, Bank of New York Mellon Corp boosted its holdings in Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock worth $1,638,501,000 after buying an additional 2,131,205 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 1.5%

Shares of NYSE BMY opened at $44.01 on Monday. The firm’s 50-day moving average price is $46.26 and its 200-day moving average price is $47.96. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock has a market capitalization of $89.57 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.26 and a beta of 0.33. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is 100.00%.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMY. Citigroup dropped their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 1st. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Finally, Daiwa Capital Markets cut shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. One investment 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $57.14.

Bristol Myers Squibb Company 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.