Bristol-Myers Squibb (NYSE:BMY) is Tobam’s 9th Largest Position

Tobam decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 44.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,282 shares of the biopharmaceutical company’s stock after selling 92,824 shares during the quarter. Bristol-Myers Squibb makes up about 2.1% of Tobam’s portfolio, making the stock its 9th biggest holding. Tobam’s holdings in Bristol-Myers Squibb were worth $6,577,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BMY. FMR LLC lifted its holdings 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 worth $2,325,227,000 after acquiring an additional 4,275,787 shares during the last quarter. Jennison Associates LLC lifted its stake in Bristol-Myers Squibb by 420.1% during the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after purchasing an additional 3,425,789 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Bristol-Myers Squibb by 695.1% during the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after buying an additional 3,107,672 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Bristol-Myers Squibb by 18.7% in the third 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 valued at $986,931,000 after buying an additional 3,002,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bristol-Myers Squibb by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after buying an additional 1,968,729 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 3.8 %

Shares of NYSE:BMY opened at $57.43 on Friday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The business’s 50 day simple moving average is $57.65 and its 200-day simple moving average is $53.63. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Equities analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.32%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BMY. Citigroup increased their price target 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. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Cantor Fitzgerald increased their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday. Truist Financial boosted their target price 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. Finally, Morgan Stanley increased their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $57.14.

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.