Bristol-Myers Squibb (NYSE:BMY) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,476 shares of the biopharmaceutical company’s stock after selling 622 shares during the quarter. KCM Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,215,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Bristol-Myers Squibb by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after buying an additional 1,187,231 shares during the period. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $1,989,525,000. Bank of New York Mellon Corp grew its holdings in Bristol-Myers Squibb by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock worth $1,398,948,000 after acquiring an additional 1,482,410 shares during the period. Finally, Schroder Investment Management Group raised its position in Bristol-Myers Squibb by 49.7% during the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock valued at $639,837,000 after acquiring an additional 3,787,075 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BMY. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup raised their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Cantor Fitzgerald increased their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Truist Financial raised their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $57.86.

Insider Buying and Selling

In other news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Down 4.3 %

BMY stock opened at $55.32 on Friday. The company has a market cap of $112.56 billion, a price-to-earnings ratio of -12.52, a PEG ratio of 2.07 and a beta of 0.41. The firm has a 50-day moving average of $58.62 and a two-hundred day moving average of $56.63. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced 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%. As a group, 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 issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

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.