Allspring Global Investments Holdings LLC Trims Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Allspring Global Investments Holdings LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,445 shares of the biopharmaceutical company's stock after selling 20,443 shares during the period. Allspring Global Investments Holdings LLC's holdings in Bristol-Myers Squibb were worth $11,043,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BMY. Contravisory Investment Management Inc. bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $488,000. Inspire Trust Co. N.A. lifted its holdings in Bristol-Myers Squibb by 39.0% in the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock valued at $5,355,000 after acquiring an additional 29,044 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company's stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 34.3% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company's stock valued at $2,305,000 after purchasing an additional 11,387 shares during the period. Finally, iA Global Asset Management Inc. increased its position in shares of Bristol-Myers Squibb by 81.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company's stock valued at $3,972,000 after purchasing an additional 34,418 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were 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 owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on BMY shares. Citigroup boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Leerink Partners raised shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Morgan Stanley raised their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. Cantor Fitzgerald boosted their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Finally, BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a "market perform" rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $57.86.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded up $0.06 during midday trading on Friday, reaching $55.85. 11,100,311 shares of the stock traded hands, compared to its average volume of 10,886,042. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The stock's fifty day moving average is $56.99 and its 200-day moving average is $54.30. The stock has a market cap of $113.33 billion, a P/E ratio of -12.63, a PEG ratio of 2.04 and a beta of 0.45.

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

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.44%. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio is currently -56.11%.

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.