First Interstate Bank Decreases Stake in Bristol Myers Squibb Company $BMY

First Interstate Bank lowered its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,277 shares of the biopharmaceutical company’s stock after selling 1,264 shares during the quarter. First Interstate Bank’s holdings in Bristol Myers Squibb were worth $2,420,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Bristol Myers Squibb by 0.8% during the first quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock worth $11,673,669,000 after buying an additional 1,458,488 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Bristol Myers Squibb by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock valued at $3,696,415,000 after purchasing an additional 306,430 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Bristol Myers Squibb by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock worth $1,638,501,000 after acquiring an additional 2,131,205 shares during the last quarter. Northern Trust Corp boosted its stake in Bristol Myers Squibb by 5.3% during the first quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock worth $1,584,185,000 after buying an additional 1,316,144 shares during the period. Finally, Wellington Management Group LLP increased its holdings in 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. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Up 0.5%

BMY stock opened at $43.63 on Monday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company’s 50 day simple moving average is $46.07 and its 200-day simple moving average is $47.40. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The firm has a market capitalization of $88.80 billion, a PE ratio of 17.59, a P/E/G ratio of 2.27 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter last year, the business posted $2.07 earnings per share. Bristol Myers Squibb’s revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, the executive vice president owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BMY. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Finally, Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, Bristol Myers Squibb presently has an average rating of “Hold” and an average target price of $57.23.

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.