Wells Trecaso Financial Group LLC Has $1.87 Million Stock Position in Bristol Myers Squibb Company $BMY

Wells Trecaso Financial Group LLC reduced its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,491 shares of the biopharmaceutical company’s stock after selling 1,624 shares during the quarter. Wells Trecaso Financial Group LLC’s holdings in Bristol Myers Squibb were worth $1,874,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Beacon Investment Advisory Services Inc. grew its stake in shares of Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock worth $492,000 after purchasing an additional 212 shares during the last quarter. Exchange Capital Management Inc. grew its stake in shares of Bristol Myers Squibb by 0.4% in the second quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock worth $2,541,000 after purchasing an additional 220 shares during the last quarter. 1858 Wealth Management LLC grew its stake in shares of Bristol Myers Squibb by 3.6% in the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock worth $392,000 after purchasing an additional 221 shares during the last quarter. Parsons Capital Management Inc. RI grew its stake in shares of Bristol Myers Squibb by 0.3% in the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock worth $3,615,000 after purchasing an additional 224 shares during the last quarter. Finally, Lipe & Dalton grew its stake in shares of Bristol Myers Squibb by 0.4% in the first quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company’s stock worth $3,476,000 after purchasing an additional 230 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred 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 transaction, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent analyst reports. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research report on Tuesday, August 5th. 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 stock. According to data from MarketBeat, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus price target of $56.38.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $45.39 on Friday. The stock’s 50 day simple moving average is $46.36 and its two-hundred day simple moving average is $48.65. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a market cap of $92.38 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.34 and a beta of 0.33. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33.

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

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 100.00%.

About Bristol Myers Squibb

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.