Fmr LLC Cuts Position in Bristol-Myers Squibb (NYSE:BMY)

Fmr LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 30.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 31,110,819 shares of the biopharmaceutical company’s stock after selling 13,829,790 shares during the period. Fmr LLC’s holdings in Bristol-Myers Squibb were worth $1,759,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter worth about $28,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $34,000. Dunhill Financial LLC increased its position in Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 189 shares during the last quarter. Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $38,000. Finally, Tacita Capital Inc purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $39,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup lifted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Cantor Fitzgerald raised their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Down 4.3 %

NYSE:BMY opened at $55.32 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a 50 day moving average of $58.62 and a 200-day moving average of $56.68. The firm has a market capitalization of $112.56 billion, a PE ratio of -12.52, 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.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates 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%. Analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

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.