Bristol Myers Squibb Company $BMY Shares Purchased by Cullen Capital Management LLC

Cullen Capital Management LLC lifted its position in Bristol Myers Squibb Company (NYSE:BMY) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,261,070 shares of the biopharmaceutical company’s stock after acquiring an additional 142,481 shares during the quarter. Cullen Capital Management LLC owned 0.06% of Bristol Myers Squibb worth $58,375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Capital Management Inc. boosted its holdings in 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 period. Parsons Capital Management Inc. RI lifted its position in shares of Bristol Myers Squibb by 0.3% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock worth $3,615,000 after buying an additional 224 shares during the last quarter. Richwood Investment Advisors LLC boosted its holdings in shares of Bristol Myers Squibb by 1.7% in the 2nd quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock valued at $616,000 after buying an additional 225 shares during the period. CBIZ Investment Advisory Services LLC grew its position in shares of Bristol Myers Squibb by 66.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 231 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its stake in Bristol Myers Squibb by 26.7% during the second quarter. Creative Financial Designs Inc. ADV now owns 1,123 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 237 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BMY. Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. HSBC reiterated a “hold” rating and set a $53.00 price objective on shares of Bristol Myers Squibb in a research report on Wednesday. Sanford C. Bernstein restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $57.00 price target (up previously from $51.00) on shares of Bristol Myers Squibb in a research report on Tuesday, December 2nd. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $54.08.

Bristol Myers Squibb Trading Up 2.3%

Shares of BMY stock opened at $52.38 on Monday. The stock has a 50-day simple moving average of $46.80 and a 200 day simple moving average of $46.93. The stock has a market capitalization of $106.63 billion, a P/E ratio of 17.69, a P/E/G ratio of 8.02 and a beta of 0.29. Bristol Myers Squibb Company has a fifty-two week low of $42.52 and a fifty-two week high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same period in the previous year, the business earned $1.80 earnings per share. Bristol Myers Squibb’s revenue for the quarter was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, January 2nd. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a yield of 4.8%. Bristol Myers Squibb’s payout ratio is 83.78%.

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.