Grantham Mayo Van Otterloo & Co. LLC Sells 206,953 Shares of Bristol-Myers Squibb (NYSE:BMY)

Grantham Mayo Van Otterloo & Co. LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 90.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,020 shares of the biopharmaceutical company’s stock after selling 206,953 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Bristol-Myers Squibb were worth $1,189,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $1,989,525,000. Wellington Management Group LLP raised its stake in Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after acquiring an additional 5,827,317 shares during the period. Raymond James Financial Inc. purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $257,618,000. Schroder Investment Management Group increased its stake in shares of Bristol-Myers Squibb by 49.7% in the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after purchasing an additional 3,787,075 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Bristol-Myers Squibb by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock valued at $1,398,948,000 after purchasing an additional 1,482,410 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BMY. Truist Financial raised their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Cantor Fitzgerald boosted their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price target 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 investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $55.18 on Tuesday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week 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. The stock has a market cap of $112.27 billion, a P/E ratio of -12.48, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The firm’s fifty day moving average price is $58.52 and its 200-day moving average price is $56.72.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly 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%. On average, equities research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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 given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s 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.