Fmr LLC Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Fmr LLC lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 30.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,110,819 shares of the biopharmaceutical company’s stock after selling 13,829,790 shares during the period. Fmr LLC owned approximately 1.53% of Bristol-Myers Squibb worth $1,759,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. United Bank increased its position in shares of Bristol-Myers Squibb by 2.7% during the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after acquiring an additional 456 shares during the last quarter. Morse Asset Management Inc raised its holdings in shares of Bristol-Myers Squibb by 25.0% in the 3rd quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company’s stock valued at $517,000 after buying an additional 2,000 shares during the period. EP Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 25.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 49,252 shares of the biopharmaceutical company’s stock worth $2,548,000 after acquiring an additional 9,836 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in Bristol-Myers Squibb by 81.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after acquiring an additional 34,418 shares during the period. Finally, Dunhill Financial LLC grew its position in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 4.3 %

Shares of NYSE:BMY opened at $55.32 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a 50 day simple moving average of $58.62 and a 200-day simple moving average of $56.68. The company has a market capitalization of $112.56 billion, a PE ratio of -12.52, a P/E/G ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping 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, equities analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared 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 dividend yield of 4.48%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Analysts Set New Price Targets

Several research firms have recently commented on BMY. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Wells Fargo & Company raised their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Bank of America reissued a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $57.86.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

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.