Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 194,445 shares of the biopharmaceutical company’s stock after selling 20,443 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bristol-Myers Squibb were worth $11,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. AMF Tjanstepension AB increased its position in Bristol-Myers Squibb by 6.9% during the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after buying an additional 39,419 shares in the last quarter. Swedbank AB raised its holdings in shares of Bristol-Myers Squibb by 0.9% in the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after acquiring an additional 28,427 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Bristol-Myers Squibb by 3.9% in the third quarter. Cyndeo Wealth Partners LLC now owns 9,535 shares of the biopharmaceutical company’s stock worth $493,000 after acquiring an additional 357 shares during the last quarter. Vest Financial LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at about $438,000. Finally, Brown Lisle Cummings Inc. raised its stake in Bristol-Myers Squibb by 9.4% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 23,315 shares of the biopharmaceutical company’s stock valued at $1,206,000 after purchasing an additional 2,002 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Wolfe Research started coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $53.85 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 fifty day moving average of $57.21 and a 200-day moving average of $54.15. The firm has a market capitalization of $109.22 billion, a P/E ratio of -12.18, a PEG ratio of 2.13 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) 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%. As a group, analysts predict that Bristol-Myers Squibb will post 6.75 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a $0.62 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.61%. 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.