ING Groep NV Sells 567,623 Shares of Bristol-Myers Squibb (NYSE:BMY)

ING Groep NV cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 54.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 467,030 shares of the biopharmaceutical company's stock after selling 567,623 shares during the period. ING Groep NV's holdings in Bristol-Myers Squibb were worth $26,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Truist Financial Corp raised its position in shares of Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock valued at $90,335,000 after acquiring an additional 60,365 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $488,000. Inspire Trust Co. N.A. raised its position in shares of Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock valued at $5,355,000 after acquiring an additional 29,044 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company's stock valued at $289,000 after acquiring an additional 206 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its position in shares of Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company's stock valued at $2,305,000 after acquiring an additional 11,387 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the company's stock in a transaction dated Friday, February 14th. The stock was bought 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 owns 63,932 shares of the company's stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Up 0.1 %

Shares of NYSE:BMY traded up $0.06 during midday trading on Friday, hitting $55.85. The stock had a trading volume of 11,100,311 shares, compared to its average volume of 10,886,042. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. 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 business's 50-day simple moving average is $56.99 and its 200-day simple moving average is $54.24. The company has a market cap of $113.33 billion, a P/E ratio of -12.63, a PEG ratio of 2.04 and a beta of 0.45.

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

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.44%. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -56.11%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cantor Fitzgerald increased their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 12th. Bank of America restated a "neutral" rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Daiwa America upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of "Hold" and a consensus price target of $57.86.

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.