Brown Brothers Harriman & Co. Sells 5,597 Shares of Bristol-Myers Squibb (NYSE:BMY)

Brown Brothers Harriman & Co. reduced its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,832 shares of the biopharmaceutical company's stock after selling 5,597 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Bristol-Myers Squibb were worth $4,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Truist Financial Corp raised its stake in Bristol-Myers Squibb by 3.9% in 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. purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $488,000. Inspire Trust Co. N.A. lifted its holdings in shares of Bristol-Myers Squibb by 39.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock worth $5,355,000 after acquiring an additional 29,044 shares during the last quarter. iA Global Asset Management Inc. grew its position in Bristol-Myers Squibb by 81.3% in the third 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 bought a new position in Bristol-Myers Squibb in the third quarter valued at $1,905,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

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Insiders Place Their Bets

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 bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares of the company's stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald upped their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Jefferies Financial Group raised Bristol-Myers Squibb from a "hold" rating to a "buy" rating and upped their target price for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Bank of America reaffirmed a "neutral" rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Citigroup lifted their target price 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. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $57.86.

Bristol-Myers Squibb Trading Down 2.4 %

Shares of BMY traded down $1.46 during mid-day trading on Tuesday, hitting $59.53. 9,614,595 shares of the company's stock traded hands, compared to its average volume of 12,731,643. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $121.13 billion, a P/E ratio of -13.47, a PEG ratio of 2.07 and a beta of 0.43. The business's 50-day moving average price is $58.64 and its 200-day moving average price is $56.44. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data 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, sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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 dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.17%. 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.