Pinebridge Investments L.P. Sells 1,130,303 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pinebridge Investments L.P. decreased its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 92.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,137 shares of the biopharmaceutical company's stock after selling 1,130,303 shares during the period. Pinebridge Investments L.P.'s holdings in Bristol-Myers Squibb were worth $4,872,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $1,989,525,000. Wellington Management Group LLP raised its stake in Bristol-Myers Squibb by 3,880.0% during the 4th 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 4th quarter worth $257,618,000. Schroder Investment Management Group grew its holdings in shares of Bristol-Myers Squibb by 49.7% in 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 period. Finally, Capital International Investors lifted its holdings in Bristol-Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock valued at $2,593,940,000 after acquiring an additional 3,218,865 shares during the period. 76.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BMY has been the subject of several research reports. Jefferies Financial Group reduced their price target on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. UBS Group reduced their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Piper Sandler started coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $58.00.

Bristol-Myers Squibb Trading Up 1.1 %

NYSE BMY traded up $0.55 during trading hours on Monday, hitting $48.45. 18,572,631 shares of the company were exchanged, compared to its average volume of 12,950,880. The stock has a market cap of $98.58 billion, a PE ratio of -10.96, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The stock has a 50-day moving average price of $56.37 and a 200 day moving average price of $56.53. 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 (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period last year, the company earned ($4.40) earnings per share. Bristol-Myers Squibb's revenue was down 5.6% on a year-over-year basis. Analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share 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. Investors 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 yield of 5.12%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently 92.88%.

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.