Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,102,596 shares of the biopharmaceutical company's stock after selling 458,380 shares during the period. Canada Pension Plan Investment Board owned about 0.20% of Bristol-Myers Squibb worth $232,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $1,989,525,000. Wellington Management Group LLP increased its stake in shares of Bristol-Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock worth $338,088,000 after purchasing an additional 5,827,317 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $257,618,000. Schroder Investment Management Group increased its stake in Bristol-Myers Squibb by 49.7% during the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company's stock worth $639,837,000 after buying an additional 3,787,075 shares in the last quarter. Finally, Independent Franchise Partners LLP raised its holdings in shares of Bristol-Myers Squibb by 20.8% during the fourth quarter. Independent Franchise Partners LLP now owns 17,129,229 shares of the biopharmaceutical company's stock valued at $968,829,000 after acquiring an additional 2,944,879 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMY has been the subject of several research reports. UBS Group dropped their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Piper Sandler began coverage on shares of Bristol-Myers Squibb in a research note on Tuesday. They issued an "overweight" rating and a $65.00 price target on the stock. 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 research note on Friday, February 7th. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $58.13.

Bristol-Myers Squibb Stock Up 1.9 %

Shares of BMY stock traded up $0.94 during trading hours on Tuesday, reaching $49.88. 3,805,536 shares of the stock were exchanged, compared to its average volume of 12,195,049. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The firm has a market capitalization of $101.49 billion, a P/E ratio of -11.29, a P/E/G ratio of 2.07 and a beta of 0.41. The business's fifty day moving average is $56.83 and its two-hundred day moving average is $56.64.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results 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 positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

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

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.