Providence Wealth Advisors LLC Sells 1,297 Shares of Bristol Myers Squibb Company $BMY

Providence Wealth Advisors LLC cut its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 31,134 shares of the biopharmaceutical company’s stock after selling 1,297 shares during the period. Providence Wealth Advisors LLC’s holdings in Bristol Myers Squibb were worth $1,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. New England Asset Management Inc. increased its stake in Bristol Myers Squibb by 0.8% in the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock worth $2,408,000 after acquiring an additional 305 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Bristol Myers Squibb by 1.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock valued at $78,580,000 after acquiring an additional 13,959 shares during the last quarter. Commonwealth Retirement Investments LLC grew its holdings in shares of Bristol Myers Squibb by 24.6% during the second 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. Sage Capital Advisors llc increased its position in shares of Bristol Myers Squibb by 60.7% in the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock worth $3,946,000 after purchasing an additional 32,181 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC raised its stake in Bristol Myers Squibb by 438.0% in the second quarter. Sound View Wealth Advisors Group LLC now owns 307,849 shares of the biopharmaceutical company’s stock valued at $14,250,000 after purchasing an additional 250,624 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were 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 in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BMY. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective for the company. in a report on Tuesday, August 5th. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Finally, Scotiabank began coverage on Bristol Myers Squibb in a research note on Thursday, November 13th. They set a “sector perform” rating and a $45.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $54.42.

Bristol Myers Squibb Stock Up 0.6%

BMY opened at $46.22 on Friday. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $63.33. 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 business’s 50-day moving average price is $45.28 and its 200-day moving average price is $46.57. The company has a market cap of $94.09 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 80.04% and a net margin of 10.58%.Bristol Myers Squibb’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s payout ratio is presently 83.78%.

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.