QRG Capital Management Inc. Sells 75,294 Shares of Bristol Myers Squibb Company $BMY

QRG Capital Management Inc. lowered its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 21.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,808 shares of the biopharmaceutical company’s stock after selling 75,294 shares during the period. QRG Capital Management Inc.’s holdings in Bristol Myers Squibb were worth $12,168,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Exchange Capital Management Inc. boosted its stake 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 buying an additional 220 shares in the last quarter. Parsons Capital Management Inc. RI lifted its holdings 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 acquiring an additional 224 shares during the last quarter. Richwood Investment Advisors LLC boosted its stake 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 purchasing an additional 225 shares in the last quarter. Mccarter Private Wealth Services LLC grew its holdings in shares of Bristol Myers Squibb by 5.0% during the 3rd quarter. Mccarter Private Wealth Services LLC now owns 4,931 shares of the biopharmaceutical company’s stock valued at $222,000 after purchasing an additional 235 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in Bristol Myers Squibb by 26.7% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,123 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 237 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BMY. Wells Fargo & Company raised their price objective on Bristol Myers Squibb from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. Morgan Stanley reaffirmed an “underweight” rating and issued a $37.00 price target (up from $36.00) on shares of Bristol Myers Squibb in a research note on Friday, December 12th. Truist Financial set a $65.00 price objective on Bristol Myers Squibb in a research note on Wednesday, December 3rd. HSBC reaffirmed a “hold” rating and issued a $53.00 target price on shares of Bristol Myers Squibb in a research note on Wednesday, December 10th. Finally, Citigroup reiterated a “neutral” rating and set a $53.00 price target (up from $45.00) on shares of Bristol Myers Squibb in a report on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.86.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $55.30 on Friday. 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 fifty day moving average of $51.91 and a 200 day moving average of $48.13. The firm has a market capitalization of $112.58 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 9.15 and a beta of 0.29. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted 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 firm had revenue of $12.22 billion during 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 company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be given a dividend of $0.63 per share. This is a boost 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 is presently 85.14%.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.