Grimes & Company Inc. Has $18.42 Million Position in Bristol Myers Squibb Company $BMY

Grimes & Company Inc. lowered its position in Bristol Myers Squibb Company (NYSE:BMY) by 5.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 397,858 shares of the biopharmaceutical company’s stock after selling 24,916 shares during the period. Grimes & Company Inc.’s holdings in Bristol Myers Squibb were worth $18,417,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Bristol Myers Squibb by 0.8% during the first quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock worth $11,673,669,000 after purchasing an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Bristol Myers Squibb by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock worth $3,696,415,000 after purchasing an additional 306,430 shares during the period. Bank of New York Mellon Corp boosted its position in Bristol Myers Squibb by 8.6% during the first 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 purchasing an additional 2,131,205 shares during the period. Northern Trust Corp boosted its position in Bristol Myers Squibb by 5.3% during 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 during the period. Finally, Wellington Management Group LLP boosted its position in Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 0.7%

Shares of BMY stock opened at $45.39 on Monday. The stock has a market cap of $92.38 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.32 and a beta of 0.33. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The stock has a fifty day moving average price of $46.36 and a 200 day moving average price of $48.49. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

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

Bristol Myers Squibb Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 100.00%.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the transaction, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Citigroup reduced their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday. Finally, Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.38.

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.