Maryland State Retirement & Pension System trimmed its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 6.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,932 shares of the biopharmaceutical company's stock after selling 8,050 shares during the quarter. Maryland State Retirement & Pension System's holdings in Bristol-Myers Squibb were worth $6,161,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Truist Financial Corp boosted its holdings in Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock valued at $90,335,000 after purchasing an additional 60,365 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $488,000. Inspire Trust Co. N.A. lifted its holdings in shares of 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 purchasing an additional 29,044 shares in the last quarter. iA Global Asset Management Inc. grew its stake 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 worth $3,972,000 after acquiring an additional 34,418 shares in the last quarter. Finally, Bellevue Group AG acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $1,905,000. Hedge funds and other institutional investors own 76.41% of the company's stock.
Bristol-Myers Squibb Stock Performance
Bristol-Myers Squibb stock traded up $0.02 during mid-day trading on Monday, hitting $61.09. The company had a trading volume of 11,975,363 shares, compared to its average volume of 12,181,105. The company's fifty day moving average is $58.17 and its 200-day moving average is $55.97. The company has a market capitalization of $123.98 billion, a price-to-earnings ratio of -13.82, a P/E/G 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 current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.
Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping the consensus estimate 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 research analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.
Bristol-Myers Squibb Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is presently -56.11%.
Insider Buying and Selling at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the business's stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
BMY has been the subject of several research reports. Bank of America restated a "neutral" rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup increased their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a "hold" rating to a "buy" rating and upped their price objective for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Truist Financial raised their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company upped their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $57.86.
View Our Latest Stock Analysis on Bristol-Myers Squibb
About Bristol-Myers Squibb
(
Free Report)
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.
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