Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,472,488 shares of the biopharmaceutical company’s stock after selling 91,365 shares during the quarter. Franklin Resources Inc. owned 0.17% of Bristol-Myers Squibb worth $196,404,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BMY. B. Metzler seel. Sohn & Co. AG increased its stake in Bristol-Myers Squibb by 1.7% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 78,799 shares of the biopharmaceutical company’s stock worth $4,457,000 after buying an additional 1,305 shares during the period. Colrain Capital LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $6,872,000. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Bristol-Myers Squibb by 12.5% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 266,859 shares of the biopharmaceutical company’s stock worth $15,094,000 after acquiring an additional 29,598 shares in the last quarter. AIA Group Ltd boosted its holdings in Bristol-Myers Squibb by 4.1% in the fourth quarter. AIA Group Ltd now owns 23,744 shares of the biopharmaceutical company’s stock valued at $1,343,000 after purchasing an additional 925 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Bristol-Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after purchasing an additional 5,827,317 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 2.4 %

BMY stock opened at $59.53 on Wednesday. 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’s 50-day simple moving average is $58.69 and its 200 day simple moving average is $56.52. The stock has a market cap of $121.13 billion, a PE ratio of -13.47, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released 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 13.93% and a negative net margin of 18.53%. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Truist Financial upped their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup boosted 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. Bank of America reiterated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.86.

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.