Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 13.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,662,834 shares of the biopharmaceutical company’s stock after selling 578,421 shares during the quarter. Jennison Associates LLC owned 0.18% of Bristol-Myers Squibb worth $207,170,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Horst & Graben Wealth Management LLC boosted its position in shares of Bristol-Myers Squibb by 2.4% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after purchasing an additional 179 shares during the period. Meridian Management Co. boosted its holdings in shares of Bristol-Myers Squibb by 0.6% in the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after acquiring an additional 182 shares during the period. Drive Wealth Management LLC grew its position in shares of Bristol-Myers Squibb by 2.1% during the fourth quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company’s stock worth $502,000 after acquiring an additional 182 shares during the last quarter. Hollencrest Capital Management increased its holdings in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the period. Finally, Dunhill Financial LLC raised its position in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Truist Financial boosted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.60.

Bristol-Myers Squibb Price Performance

BMY stock opened at $58.86 on Monday. The company has a market cap of $119.38 billion, a price-to-earnings ratio of -16.40, a PEG ratio of 2.10 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The firm has a 50 day moving average of $57.60 and a 200-day moving average of $53.34. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the business earned $2.00 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -69.08%.

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.