California Public Employees Retirement System Trims Position in Bristol-Myers Squibb (NYSE:BMY)

California Public Employees Retirement System cut its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,505,730 shares of the biopharmaceutical company's stock after selling 1,820,805 shares during the quarter. California Public Employees Retirement System owned about 0.32% of Bristol-Myers Squibb worth $367,964,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fairway Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $28,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $34,000. Dunhill Financial LLC increased its holdings in shares of Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 189 shares during the period. Westend Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $38,000. Finally, Tacita Capital Inc purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company's stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts recently weighed in on BMY shares. Truist Financial lifted their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Citigroup raised their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Bank of America restated a "neutral" rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group upgraded Bristol-Myers Squibb from a "hold" rating to a "buy" rating and boosted their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of "Hold" and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Down 0.8 %

Shares of BMY traded down $0.45 during mid-day trading on Thursday, reaching $59.15. The company's stock had a trading volume of 5,107,868 shares, compared to its average volume of 12,707,098. The company's 50 day moving average is $58.74 and its 200 day moving average is $56.54. The stock has a market cap of $120.36 billion, a PE ratio of -13.38, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. 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 (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed 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 dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's payout ratio is -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.