Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 62.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,527,911 shares of the biopharmaceutical company's stock after selling 12,711,872 shares during the period. Price T Rowe Associates Inc. MD owned about 0.37% of Bristol-Myers Squibb worth $425,779,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Fairway Wealth LLC bought a new position in Bristol-Myers Squibb in the fourth quarter valued at about $28,000. Transce3nd LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. Westend Capital Management LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $38,000. Finally, Tacita Capital Inc purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth $39,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial boosted their target price 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. UBS Group dropped their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Jefferies Financial Group decreased their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Finally, Piper Sandler began coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of "Hold" and a consensus price target of $58.00.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,823 shares of the company's stock in a transaction on Friday, February 14th. The shares were bought 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 $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded up $0.55 during mid-day trading on Monday, reaching $48.45. The company's stock had a trading volume of 18,572,631 shares, compared to its average volume of 12,950,880. The stock has a market capitalization of $98.58 billion, a P/E ratio of -10.96, a P/E/G ratio of 2.07 and a beta of 0.41. The stock has a 50-day moving average of $56.37 and a two-hundred day moving average of $56.53. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same quarter in the prior year, the company posted ($4.40) EPS. The business's revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. 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 92.88%.

About Bristol-Myers Squibb

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.