Convergence Investment Partners LLC decreased its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 15.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,302 shares of the biopharmaceutical company's stock after selling 14,191 shares during the quarter. Bristol Myers Squibb comprises approximately 1.3% of Convergence Investment Partners LLC's portfolio, making the stock its 17th biggest position. Convergence Investment Partners LLC's holdings in Bristol Myers Squibb were worth $4,654,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Norges Bank bought a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $1,989,525,000. Ameriprise Financial Inc. lifted its position in shares of Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after buying an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Bristol Myers Squibb by 701.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock valued at $705,309,000 after buying an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Bristol Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after buying an additional 5,827,317 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of 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 valued at $639,837,000 after buying an additional 3,787,075 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.
Bristol Myers Squibb Stock Down 1.0%
Shares of NYSE BMY traded down $0.51 during midday trading on Friday, hitting $48.44. 11,836,611 shares of the company's stock were exchanged, compared to its average volume of 12,210,974. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. Bristol Myers Squibb Company has a twelve month low of $44.00 and a twelve month high of $63.33. The company has a market cap of $98.57 billion, a PE ratio of 18.14, a P/E/G ratio of 2.56 and a beta of 0.36. The firm's fifty day simple moving average is $47.67 and its 200-day simple moving average is $52.64.
Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The firm's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted ($4.40) EPS. Research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.
Bristol Myers Squibb Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.12%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 92.88%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on BMY shares. Piper Sandler started coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Morgan Stanley dropped their price objective on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a research note on Thursday, July 10th. Finally, Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and an average price target of $58.53.
View Our Latest Research Report on BMY
Bristol Myers Squibb Company Profile
(
Free Report)
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.
Featured Articles

Before you consider Bristol Myers Squibb, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bristol Myers Squibb wasn't on the list.
While Bristol Myers Squibb currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report