Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Arnhold LLC

Arnhold LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 435,306 shares of the biopharmaceutical company's stock after selling 36,634 shares during the quarter. Bristol-Myers Squibb makes up approximately 2.4% of Arnhold LLC's investment portfolio, making the stock its 9th largest position. Arnhold LLC's holdings in Bristol-Myers Squibb were worth $24,621,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $1,989,525,000. Wellington Management Group LLP increased its position in shares of Bristol-Myers Squibb by 3,880.0% in the fourth 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. Raymond James Financial Inc. purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $257,618,000. Schroder Investment Management Group increased its position in shares of Bristol-Myers Squibb by 49.7% during the fourth 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, Adage Capital Partners GP L.L.C. increased its position in shares of Bristol-Myers Squibb by 72.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company's stock worth $439,427,000 after purchasing an additional 3,275,061 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Up 1.1 %

Shares of Bristol-Myers Squibb stock traded up $0.55 on Monday, reaching $48.45. The company had a trading volume of 18,572,631 shares, compared to its average volume of 12,950,880. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a market cap of $98.58 billion, a PE ratio of -10.96, a PEG ratio of 2.07 and a beta of 0.41. The firm's 50 day moving average price is $56.37 and its two-hundred day moving average price is $56.53. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($4.40) earnings per share. Sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.12%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction on Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. William Blair reiterated a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday. Citigroup boosted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Piper Sandler started coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. Jefferies Financial Group lowered their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of "Hold" and an average price target of $58.00.

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.