Pinnacle Wealth Management Advisory Group LLC Reduces Holdings in Bristol Myers Squibb Company $BMY

Pinnacle Wealth Management Advisory Group LLC cut its stake in Bristol Myers Squibb Company (NYSE:BMY) by 14.8% in the second quarter, Holdings Channel.com reports. The fund owned 17,824 shares of the biopharmaceutical company’s stock after selling 3,095 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Bristol Myers Squibb were worth $825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in BMY. Wellington Management Group LLP lifted its holdings in shares of 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 valued at $1,447,198,000 after purchasing an additional 17,750,938 shares during the last quarter. GQG Partners LLC increased its position in Bristol Myers Squibb by 22,647.6% during the first 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 purchased a new stake in Bristol Myers Squibb in the first quarter valued at approximately $624,369,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Bristol Myers Squibb in the second quarter valued at approximately $98,898,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Bristol Myers Squibb by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 14,051,319 shares of the biopharmaceutical company’s stock worth $856,990,000 after acquiring an additional 2,117,249 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY opened at $46.74 on Monday. 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 company’s 50-day moving average price is $45.25 and its 200 day moving average price is $46.68. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $63.33. The stock has a market cap of $95.14 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same period last year, the company posted $1.80 EPS. The company’s revenue was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 83.78%.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of recent research reports. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $57.23.

Insiders Place Their Bets

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

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.