Corient Private Wealth LLC Sells 22,382 Shares of Bristol Myers Squibb Company $BMY

Corient Private Wealth LLC decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 512,446 shares of the biopharmaceutical company’s stock after selling 22,382 shares during the quarter. Corient Private Wealth LLC’s holdings in Bristol Myers Squibb were worth $23,721,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New England Asset Management Inc. increased its stake in shares of Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock worth $2,408,000 after purchasing an additional 305 shares during the last quarter. Commonwealth Retirement Investments LLC lifted its stake 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 purchasing an additional 11,690 shares during the last quarter. Norges Bank bought a new position in Bristol Myers Squibb during the second quarter worth about $1,554,154,000. Sound View Wealth Advisors Group LLC increased its position in Bristol Myers Squibb by 438.0% during the second 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 raised its stake in Bristol Myers Squibb by 42.6% in the second quarter. Wealth Quarterback LLC now owns 25,443 shares of the biopharmaceutical company’s stock valued at $1,178,000 after buying an additional 7,603 shares during the period. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $53.56 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $109.03 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 8.30 and a beta of 0.29. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $63.33. The company has a 50-day simple moving average of $47.35 and a two-hundred day simple moving average of $47.07.

Bristol Myers Squibb (NYSE:BMY) last announced its 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. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.63 per share. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.7%. Bristol Myers Squibb’s payout ratio is currently 83.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Citigroup cut their price target on Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, November 17th. Morgan Stanley reiterated an “underweight” rating and issued a $37.00 price objective (up from $36.00) on shares of Bristol Myers Squibb in a report on Friday, December 12th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Finally, HSBC reaffirmed a “hold” rating and set a $53.00 target price on shares of Bristol Myers Squibb in a report on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Bristol Myers Squibb has a consensus rating of “Hold” and a consensus price target of $54.62.

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.