Te Ahumairangi Investment Management Ltd Sells 35,803 Shares of Bristol-Myers Squibb (NYSE:BMY)

Te Ahumairangi Investment Management Ltd reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 32.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,144 shares of the biopharmaceutical company’s stock after selling 35,803 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Bristol-Myers Squibb were worth $4,137,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMY. Vanguard Group Inc. increased its holdings in Bristol-Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares in the last quarter. State Street Corp grew its holdings in Bristol-Myers Squibb by 1.6% during the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after buying an additional 1,451,214 shares in the last quarter. Geode Capital Management LLC raised its position in Bristol-Myers Squibb by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after buying an additional 1,187,231 shares during the last quarter. Norges Bank purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $1,989,525,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Bristol-Myers Squibb by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock worth $1,398,948,000 after acquiring an additional 1,482,410 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Price Performance

BMY opened at $59.53 on Wednesday. The firm has a 50-day moving average price of $58.69 and a 200-day moving average price of $56.52. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $121.13 billion, a price-to-earnings ratio of -13.47, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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%. Equities analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.17%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Wall Street Analyst Weigh In

BMY has been the topic of several analyst reports. Cantor Fitzgerald boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Truist Financial upped their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Wells Fargo & Company raised their target price on 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. Finally, Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Company 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.