Berkshire Asset Management LLC PA Cuts Stake in Bristol Myers Squibb Company $BMY

Berkshire Asset Management LLC PA lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 544,305 shares of the biopharmaceutical company’s stock after selling 32,444 shares during the period. Berkshire Asset Management LLC PA’s holdings in Bristol Myers Squibb were worth $24,548,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BMY. Norges Bank purchased a new position in Bristol Myers Squibb in the second quarter valued at $1,554,154,000. Charles Schwab Investment Management Inc. raised its position in Bristol Myers Squibb by 16.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock valued at $3,277,456,000 after purchasing an additional 10,195,775 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Bristol Myers Squibb by 428.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock worth $523,599,000 after buying an additional 9,171,098 shares in the last quarter. Man Group plc increased its stake in shares of Bristol Myers Squibb by 280.4% during the second quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock worth $345,594,000 after buying an additional 5,503,391 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Bristol Myers Squibb by 142.8% in the second quarter. Franklin Resources Inc. now owns 8,436,811 shares of the biopharmaceutical company’s stock valued at $390,541,000 after acquiring an additional 4,961,869 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. BMO Capital Markets reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 17th. Bank of America upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $61.00 in a research note on Monday, December 15th. Truist Financial set a $65.00 price target on Bristol Myers Squibb in a report on Wednesday, December 3rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $57.00 price objective (up previously from $51.00) on shares of Bristol Myers Squibb in a report on Tuesday, December 2nd. Finally, UBS Group upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $65.00 in a research note on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $59.20.

Bristol Myers Squibb Price Performance

BMY stock opened at $60.64 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.17 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $123.49 billion, a P/E ratio of 17.58, a PEG ratio of 0.17 and a beta of 0.29. The business has a 50 day simple moving average of $55.33 and a 200-day simple moving average of $49.46. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.39). Bristol Myers Squibb had a net margin of 14.64% and a return on equity of 69.65%. The business had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter last year, the company earned $1.67 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.52 annualized dividend and a yield of 4.2%. This is a boost from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 73.04%.

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.