Fisher Asset Management LLC Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Fisher Asset Management LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.1% in the 4th quarter, HoldingsChannel reports. The fund owned 223,877 shares of the biopharmaceutical company’s stock after selling 2,603 shares during the quarter. Fisher Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $12,663,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Wealthspire Advisors LLC boosted its holdings in Bristol-Myers Squibb by 0.6% during the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock valued at $1,622,000 after acquiring an additional 170 shares during the period. Edmp Inc. boosted its holdings in Bristol-Myers Squibb by 0.4% during the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after acquiring an additional 171 shares during the period. Trust Point Inc. boosted its holdings in Bristol-Myers Squibb by 1.9% during the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after acquiring an additional 172 shares during the period. Horst & Graben Wealth Management LLC boosted its holdings in Bristol-Myers Squibb by 2.4% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after acquiring an additional 179 shares during the period. Finally, Meridian Management Co. boosted its holdings in Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after acquiring an additional 182 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Stock Up 0.4 %

Shares of NYSE:BMY opened at $59.85 on Tuesday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The firm has a market capitalization of $121.45 billion, a P/E ratio of -13.54, a P/E/G ratio of 2.07 and a beta of 0.45. The stock has a 50 day moving average price of $57.20 and a 200-day moving average price of $54.86. 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) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business 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 dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.14%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. 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. Cantor Fitzgerald increased 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. Citigroup increased their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company 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.