Capital Asset Advisory Services LLC Grows Stock Position in Bristol Myers Squibb Company $BMY

Capital Asset Advisory Services LLC increased its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 21.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,365 shares of the biopharmaceutical company’s stock after purchasing an additional 10,291 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Bristol Myers Squibb were worth $2,587,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. New England Asset Management Inc. grew its stake in shares of 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 valued at $2,408,000 after purchasing an additional 305 shares during the last quarter. Commonwealth Retirement Investments LLC grew its position in Bristol Myers Squibb by 24.6% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock valued at $2,740,000 after buying an additional 11,690 shares during the last quarter. Norges Bank acquired a new position in Bristol Myers Squibb in the 2nd quarter valued at $1,554,154,000. Sound View Wealth Advisors Group LLC raised its position in Bristol Myers Squibb by 438.0% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 307,849 shares of the biopharmaceutical company’s stock worth $14,250,000 after buying an additional 250,624 shares during the last quarter. Finally, Wealth Quarterback LLC lifted its stake in shares of Bristol Myers Squibb by 42.6% in the 2nd quarter. Wealth Quarterback LLC now owns 25,443 shares of the biopharmaceutical company’s stock worth $1,178,000 after acquiring an additional 7,603 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BMY. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Truist Financial set a $65.00 target price on Bristol Myers Squibb in a research note on Wednesday, December 3rd. Bank of America upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $61.00 in a research note on Monday. HSBC reaffirmed a “hold” rating and set a $53.00 price objective on shares of Bristol Myers Squibb in a report on Wednesday, December 10th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $57.00 target price (up from $51.00) on shares of Bristol Myers Squibb in a research report on Tuesday, December 2nd. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.62.

Bristol Myers Squibb Stock Up 3.6%

Shares of NYSE BMY opened at $54.27 on Tuesday. The firm’s 50-day moving average is $46.98 and its two-hundred day moving average is $46.98. The company has a market capitalization of $110.48 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 8.02 and a beta of 0.29. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $63.33. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17.

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 12.57% and a return on equity of 76.53%. 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. Equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be given a $0.63 dividend. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, January 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 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.