Stake Reallocations Alter Institutional Holdings in Bristol Myers Squibb This Quarter

Stake shifts will change reported dollar exposure and portfolio weightings for several large investors in Bristol Myers Squibb. Friday at 9: 00 a. m. ET, SEC filings show First Trust Advisors LP lifted its holdings by 22. 6%, Edgar Lomax Co. VA cut its stake by 22. 9%, and Kahn Brothers Group Inc. sold 278, 349 shares.

Stake Growth by First Trust Advisors LP Raises Its Bristol Myers Squibb Exposure

First Trust Advisors LP increased its holdings to 5, 628, 786 shares after purchasing an additional 1, 036, 238 shares in the third quarter, in its most recent filing with the SEC. That position represents roughly 0. 28% ownership and was valued at $253, 858, 000 at the end of the reporting period, shifting more than $250 million of reported exposure onto First Trust’s books.

Kahn Brothers Group Inc. Reduces Its Position, Shrinking BMY Weighting

Kahn Brothers Group Inc. trimmed its position by 50. 5% during the third quarter, selling 278, 349 shares and leaving the firm with 272, 334 shares of Bristol Myers Squibb in its portfolio. The filing shows Bristol Myers Squibb comprised 2. 3% of Kahn Brothers’ holdings and was the firm’s 13th largest holding, with the remaining stake valued at $12, 282, 000 at the quarter’s close.

Edgar Lomax Co. VA Sells Shares as Institutional Ownership Remains Concentrated

Edgar Lomax Co. VA cut its holdings in Bristol Myers Squibb by 22. 9% in the third quarter, selling 19, 840 shares and retaining 66, 750 shares worth $3, 010, 000 at the end of the reporting period, per its SEC disclosure. Institutional investors collectively still held 76. 41% of Bristol Myers Squibb’s stock, underscoring that these buys and sells are reallocations inside a highly institutionally owned base.

Still, other institutional moves in the period changed the distribution of large positions: Vanguard Group Inc. grew its stake by 0. 5% to 195, 984, 009 shares valued at $8, 838, 879, 000, and Charles Schwab Investment Management Inc. increased holdings to 70, 802, 680 shares after adding 10, 195, 775 shares in the second quarter, filings show. Each change alters reported rankings and dollar weightings among the biggest holders.

That said, research houses continued to update views on the stock during the same window: multiple firms issued new price targets and ratings in recent notes, and analyst coverage listed a range of buy and hold opinions reflected in the aggregate consensus reported in market data.

What could reverse or accelerate these portfolio shifts is what appears in the next round of regulatory disclosures. The next quarterly SEC filings are the specific event to watch; if filings show similar buy and sell activity by these institutions, then institutional ownership concentration and reported dollar exposure among the largest holders will shift further by the end of the next quarter.