Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board trimmed its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,102,596 shares of the biopharmaceutical company's stock after selling 458,380 shares during the period. Canada Pension Plan Investment Board owned about 0.20% of Bristol-Myers Squibb worth $232,043,000 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 position in Bristol-Myers Squibb in the 4th quarter valued at $1,989,525,000. Wellington Management Group LLP raised 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 during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $257,618,000. Schroder Investment Management Group boosted its position in 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 acquiring an additional 3,787,075 shares during the last quarter. Finally, Independent Franchise Partners LLP grew its stake in Bristol-Myers Squibb by 20.8% during the 4th quarter. Independent Franchise Partners LLP now owns 17,129,229 shares of the biopharmaceutical company's stock valued at $968,829,000 after acquiring an additional 2,944,879 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 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, with a total value of $99,973.32. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.07% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on BMY. UBS Group decreased their target price on shares of 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. The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Truist Financial upped their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Finally, Citigroup upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $57.67.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $49.33 on Thursday. 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 52-week low of $39.35 and a 52-week high of $63.33. The firm has a market cap of $100.37 billion, a PE ratio of -11.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company's 50 day moving average is $57.24 and its two-hundred day moving average is $56.68.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, research analysts expect 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 given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is presently -56.11%.

Bristol-Myers Squibb 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.