Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,443,854 shares of the biopharmaceutical company’s stock after selling 14,682 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Bristol-Myers Squibb worth $138,224,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BMY. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $25,000. Hollencrest Capital Management boosted its stake in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $29,000. Finally, Valued Wealth Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $54.45 on Wednesday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The stock’s 50-day moving average is $57.11 and its two-hundred day moving average is $54.19. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The firm has a market cap of $110.49 billion, a P/E ratio of -12.32, a price-to-earnings-growth ratio of 2.13 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. On average, analysts anticipate that Bristol-Myers Squibb will post 6.75 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.56%. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Analyst Ratings Changes

Several analysts have recently commented on the company. BMO Capital Markets raised their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Wolfe Research assumed coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Leerink Partners raised 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 research report on Tuesday, November 12th. Citigroup raised their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Truist Financial raised 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. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average 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.