Asset Management One Co. Ltd. Sells 6,666 Shares of Bristol-Myers Squibb (NYSE:BMY)

Asset Management One Co. Ltd. trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 0.7% in the fourth quarter, Holdings Channel reports. The firm owned 889,852 shares of the biopharmaceutical company’s stock after selling 6,666 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Bristol-Myers Squibb were worth $51,327,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its position in 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 acquiring an additional 4,275,787 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock valued at $219,443,000 after purchasing an additional 3,425,789 shares during the period. Janus Henderson Group PLC lifted its stake in Bristol-Myers Squibb by 695.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after purchasing an additional 3,107,672 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Bristol-Myers Squibb by 18.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after purchasing an additional 3,002,418 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Bristol-Myers Squibb by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after buying an additional 1,968,729 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of several research analyst reports. Truist Financial lifted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. BMO Capital Markets increased their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Bank of America reiterated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Trading Down 0.4 %

BMY opened at $55.93 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The stock has a market capitalization of $113.44 billion, a price-to-earnings ratio of -12.65, a P/E/G ratio of 2.13 and a beta of 0.45. The company has a 50-day simple moving average of $57.38 and a 200 day simple moving average of $54.02.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.81%. Analysts predict that Bristol-Myers Squibb will post 6.75 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.43%. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Bristol-Myers Squibb Profile

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.