New York State Teachers Retirement System Trims Holdings in Bristol Myers Squibb Company (NYSE:BMY)

New York State Teachers Retirement System lowered its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,762,464 shares of the biopharmaceutical company's stock after selling 86,444 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Bristol Myers Squibb worth $107,493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Bristol Myers Squibb by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock worth $10,743,262,000 after buying an additional 1,373,209 shares during the last quarter. Capital International Investors boosted its holdings in Bristol Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after acquiring an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Bristol Myers Squibb by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after acquiring an additional 1,187,231 shares in the last quarter. Norges Bank purchased a new stake in shares of Bristol Myers Squibb in the fourth quarter worth $1,989,525,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on BMY. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. Jefferies Financial Group cut their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. UBS Group cut their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Argus upgraded Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Bristol Myers Squibb has an average rating of "Hold" and a consensus price target of $58.00.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock remained flat at $46.35 during mid-day trading on Monday. 17,322,736 shares of the company traded hands, compared to its average volume of 12,903,511. Bristol Myers Squibb Company has a one year low of $39.35 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The stock has a market cap of $94.33 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.37 and a beta of 0.38. The company has a 50 day moving average of $47.90 and a 200 day moving average of $53.91.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The firm had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same quarter last year, the business posted ($4.40) earnings per share. The firm's revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president directly owned 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.07% 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.