Erste Asset Management GmbH Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

Erste Asset Management GmbH lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 6.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 162,210 shares of the biopharmaceutical company’s stock after selling 11,164 shares during the period. Erste Asset Management GmbH’s holdings in Bristol-Myers Squibb were worth $9,272,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BMY. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth $29,000. Dunhill Financial LLC raised its stake in Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth about $34,000. Finally, Westend Capital Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $38,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was bought 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 owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. 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 report on Friday, February 7th. Citigroup upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Truist Financial upped their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $60.22 on Friday. The stock has a market capitalization of $122.21 billion, a P/E ratio of -13.63, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The company’s fifty day moving average is $57.76 and its two-hundred day moving average is $55.44.

Bristol-Myers Squibb (NYSE:BMY) last posted 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 negative net margin of 18.53% and a positive return on equity of 13.93%. On average, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 yield of 4.12%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

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.