Brandywine Global Investment Management LLC Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Brandywine Global Investment Management LLC cut its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 21.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 947,523 shares of the biopharmaceutical company's stock after selling 264,713 shares during the quarter. Brandywine Global Investment Management LLC's holdings in Bristol-Myers Squibb were worth $53,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its stake in shares of Bristol-Myers Squibb by 3.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 307,582 shares of the biopharmaceutical company's stock valued at $17,474,000 after acquiring an additional 11,057 shares in the last quarter. Summit Securities Group LLC raised its holdings in Bristol-Myers Squibb by 1,968.0% in the 4th quarter. Summit Securities Group LLC now owns 51,700 shares of the biopharmaceutical company's stock valued at $2,924,000 after acquiring an additional 49,200 shares in the last quarter. Portland Global Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 7.2% during the 4th quarter. Portland Global Advisors LLC now owns 5,419 shares of the biopharmaceutical company's stock worth $306,000 after purchasing an additional 365 shares in the last quarter. Schroder Investment Management Group grew its holdings 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 worth $639,837,000 after purchasing an additional 3,787,075 shares in the last quarter. Finally, MV Capital Management Inc. raised its stake in Bristol-Myers Squibb by 16.9% in the fourth quarter. MV Capital Management Inc. now owns 3,155 shares of the biopharmaceutical company's stock valued at $178,000 after purchasing an additional 456 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

BMY has been the subject of several analyst reports. Cantor Fitzgerald boosted their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Citigroup upped their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Jefferies Financial Group raised Bristol-Myers Squibb from a "hold" rating to a "buy" rating and raised their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Truist Financial boosted 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. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of "Hold" and an average target price of $57.86.

Bristol-Myers Squibb Trading Down 2.4 %

Shares of Bristol-Myers Squibb stock traded down $1.46 on Tuesday, hitting $59.53. 9,614,595 shares of the company's stock traded hands, compared to its average volume of 12,744,443. The company has a market capitalization of $121.13 billion, a price-to-earnings ratio of -13.47, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a fifty day moving average of $58.64 and a two-hundred day moving average of $56.44. 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 one year low of $39.35 and a one year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) 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%. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -56.11%.

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.