Cullen Capital Management LLC Invests $65.25 Million in Bristol Myers Squibb Company $BMY

Cullen Capital Management LLC purchased a new position in Bristol Myers Squibb Company (NYSE:BMY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,132,367 shares of the biopharmaceutical company’s stock, valued at approximately $65,247,000. Cullen Capital Management LLC owned approximately 0.06% of Bristol Myers Squibb at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BMY. Northwestern Mutual Investment Management Company LLC raised its holdings in Bristol Myers Squibb by 0.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 65,046 shares of the biopharmaceutical company’s stock worth $3,509,000 after buying an additional 172 shares during the last quarter. KCM Investment Advisors LLC grew its holdings in shares of Bristol Myers Squibb by 0.8% during the fourth quarter. KCM Investment Advisors LLC now owns 20,871 shares of the biopharmaceutical company’s stock valued at $1,126,000 after buying an additional 174 shares during the last quarter. Sandy Cove Advisors LLC increased its position in shares of Bristol Myers Squibb by 4.7% during the second quarter. Sandy Cove Advisors LLC now owns 3,932 shares of the biopharmaceutical company’s stock valued at $227,000 after acquiring an additional 176 shares in the last quarter. Investment Research Partners LLC increased its position in shares of Bristol Myers Squibb by 1.4% during the fourth quarter. Investment Research Partners LLC now owns 13,134 shares of the biopharmaceutical company’s stock valued at $708,000 after acquiring an additional 179 shares in the last quarter. Finally, ESG Planning DBA Harper Investing raised its holdings in Bristol Myers Squibb by 1.3% in the 4th quarter. ESG Planning DBA Harper Investing now owns 13,811 shares of the biopharmaceutical company’s stock worth $745,000 after acquiring an additional 180 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America lowered their price objective on Bristol Myers Squibb from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Argus upgraded Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, August 5th. Wells Fargo & Company set a $65.00 price target on Bristol Myers Squibb and gave the company an “equal weight” rating in a report on Friday, July 31st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Bristol Myers Squibb from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Moderate Buy” and an average price target of $66.06.

Bristol Myers Squibb Price Performance

NYSE BMY opened at $67.30 on Tuesday. The stock has a market capitalization of $137.47 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.17 and a beta of 0.22. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $68.64. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. The business’s fifty day moving average price is $60.77 and its 200-day moving average price is $59.47.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.44. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The company had revenue of $12.97 billion during the quarter, compared to analysts’ expectations of $11.74 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. Bristol Myers Squibb’s revenue for the quarter was up 5.7% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, equities analysts predict that Bristol Myers Squibb Company will post 6.95 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, July 2nd. Bristol Myers Squibb’s dividend payout ratio is 55.51%.

About Bristol Myers Squibb

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.