Bristol-Myers Squibb (NYSE:BMY) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,484 shares of the biopharmaceutical company's stock after selling 33,839 shares during the quarter. River Road Asset Management LLC's holdings in Bristol-Myers Squibb were worth $10,321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Kennebec Savings Bank purchased a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $28,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter worth $29,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $34,000. Dunhill Financial LLC lifted its holdings in shares of Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 189 shares during the period. Finally, Westend Capital Management LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insider Buying and Selling

In related 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Down 2.6 %

BMY stock opened at $61.47 on Wednesday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a market cap of $124.74 billion, a price-to-earnings ratio of -13.91, a PEG ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a 50-day moving average of $57.62 and a two-hundred day moving average of $55.38.

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Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) 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, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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 paid a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.03%. Bristol-Myers Squibb's dividend payout ratio is currently -56.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BMY. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. Bank of America reiterated a "neutral" rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Morgan Stanley raised their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an "underweight" rating in a research report on Tuesday, November 12th. Finally, Truist Financial increased their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $57.86.

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.

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