Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 4.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 583,850 shares of the biopharmaceutical company’s stock after selling 25,487 shares during the period. Bristol-Myers Squibb comprises 1.7% of Berkshire Asset Management LLC PA’s investment portfolio, making the stock its 26th biggest holding. Berkshire Asset Management LLC PA’s holdings in Bristol-Myers Squibb were worth $34,838,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BMY. Raymond James Financial Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $257,618,000. FMR LLC raised its stake in shares of Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after acquiring an additional 4,275,787 shares during the period. Jennison Associates LLC raised its stake in shares of Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock valued at $219,443,000 after acquiring an additional 3,425,789 shares during the period. Janus Henderson Group PLC raised its stake in shares of 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 valued at $183,971,000 after acquiring an additional 3,107,672 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Bristol-Myers Squibb by 18.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after buying an additional 3,002,418 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the company from $63.00 to $70.00 in a report on Monday, December 16th. BMO Capital Markets increased their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Truist Financial raised their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $60.13 on Friday. The firm has a market capitalization of $122.01 billion, a P/E ratio of -13.60, a PEG ratio of 2.07 and a beta of 0.45. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The business has a 50-day moving average of $57.32 and a 200-day moving average of $55.00. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid 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 4.12%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

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.