Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 426,306 shares of the biopharmaceutical company’s stock after selling 79,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Bristol-Myers Squibb were worth $24,112,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Delta Financial Group Inc. acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $2,490,000. Atlantic Family Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $321,000. Sigma Investment Counselors Inc. grew its position in shares of Bristol-Myers Squibb by 3.2% in the fourth quarter. Sigma Investment Counselors Inc. now owns 35,591 shares of the biopharmaceutical company’s stock valued at $2,013,000 after purchasing an additional 1,115 shares during the last quarter. MONECO Advisors LLC grew its position in shares of Bristol-Myers Squibb by 97.6% in the fourth quarter. MONECO Advisors LLC now owns 16,823 shares of the biopharmaceutical company’s stock valued at $952,000 after purchasing an additional 8,311 shares during the last quarter. Finally, Pavion Blue Capital LLC grew its position in shares of Bristol-Myers Squibb by 7.0% in the fourth quarter. Pavion Blue Capital LLC now owns 15,233 shares of the biopharmaceutical company’s stock valued at $862,000 after purchasing an additional 1,000 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The shares were purchased 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 $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $55.85 on Friday. The company’s fifty day simple moving average is $56.99 and its 200-day simple moving average is $54.35. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a market cap of $113.33 billion, a PE ratio of -12.63, a P/E/G ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 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 issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Analysts Set New Price Targets

Several research firms have recently commented on BMY. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Citigroup raised their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald raised their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Truist Financial raised their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average 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.