Birmingham Capital Management Co. Inc. AL Has $2.62 Million Holdings in Bristol Myers Squibb Company $BMY

Birmingham Capital Management Co. Inc. AL cut its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,891 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Bristol Myers Squibb were worth $2,616,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. New England Asset Management Inc. grew its stake in Bristol Myers Squibb by 0.8% in the first quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock valued at $2,408,000 after acquiring an additional 305 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Bristol Myers Squibb by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock valued at $78,580,000 after buying an additional 13,959 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $16,651,000. Avaii Wealth Management LLC boosted its position in shares of Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock valued at $4,794,000 after buying an additional 67,221 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Bristol Myers Squibb by 1.4% during the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock valued at $3,967,000 after buying an additional 869 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the 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 sale, the executive vice president 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BMY. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Citigroup dropped their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Hold” and a consensus price target of $56.38.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $47.15 on Thursday. The company has a market capitalization of $95.97 billion, a P/E ratio of 19.01, a P/E/G ratio of 2.42 and a beta of 0.35. The business has a fifty day simple moving average of $47.08 and a two-hundred day simple moving average of $50.33. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33. 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 announced its quarterly earnings results 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. The company 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%.The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 100.00%.

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.