Brown Brothers Harriman & Co. Sells 5,597 Shares of Bristol-Myers Squibb (NYSE:BMY)

Brown Brothers Harriman & Co. trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,832 shares of the biopharmaceutical company’s stock after selling 5,597 shares during the period. Brown Brothers Harriman & Co.’s holdings in Bristol-Myers Squibb were worth $4,572,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $1,989,525,000. Raymond James Financial Inc. bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $257,618,000. Janus Henderson Group PLC increased its holdings in Bristol-Myers Squibb by 695.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after acquiring an additional 3,107,672 shares in the last quarter. National Bank of Canada FI raised its stake in Bristol-Myers Squibb by 194.7% during the 3rd quarter. National Bank of Canada FI now owns 2,506,741 shares of the biopharmaceutical company’s stock worth $129,698,000 after acquiring an additional 1,656,141 shares during the period. Finally, Bank of New York Mellon Corp lifted 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 valued at $1,398,948,000 after purchasing an additional 1,482,410 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Price Performance

BMY stock opened at $60.10 on Friday. The company has a fifty day simple moving average of $58.55 and a two-hundred day simple moving average of $56.30. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $121.96 billion, a P/E ratio of -13.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 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%. Analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.13%. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.