Royal London Asset Management Ltd. Trims Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Royal London Asset Management Ltd. cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,548,483 shares of the biopharmaceutical company’s stock after selling 372 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.08% of Bristol-Myers Squibb worth $87,582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp raised its holdings in Bristol-Myers Squibb by 1.6% in the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after acquiring an additional 1,451,214 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Bristol-Myers Squibb by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after purchasing an additional 1,968,729 shares in the last quarter. FMR LLC lifted its position in shares of Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the last quarter. Geode Capital Management LLC grew its stake in Bristol-Myers Squibb by 2.5% in the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after purchasing an additional 1,036,495 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Bristol-Myers Squibb by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock valued at $1,398,948,000 after buying an additional 1,482,410 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of several research reports. Cantor Fitzgerald lifted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Truist Financial raised their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $60.07 on Thursday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The firm has a market capitalization of $121.90 billion, a PE ratio of -13.59, a P/E/G ratio of 2.07 and a beta of 0.43. The firm has a 50-day moving average price of $58.00 and a 200 day moving average price of $55.79. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

About Bristol-Myers Squibb

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.