Daiwa Securities Group Inc. Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Daiwa Securities Group Inc. lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 321,995 shares of the biopharmaceutical company’s stock after selling 8,196 shares during the period. Daiwa Securities Group Inc.’s holdings in Bristol-Myers Squibb were worth $18,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealthspire Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 0.6% in the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after buying an additional 170 shares during the last quarter. Edmp Inc. grew its stake in shares of Bristol-Myers Squibb by 0.4% in the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after buying an additional 171 shares during the last quarter. Trust Point Inc. grew its stake in shares of Bristol-Myers Squibb by 1.9% in the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after buying an additional 172 shares during the last quarter. Bedel Financial Consulting Inc. grew its stake in shares of Bristol-Myers Squibb by 3.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock worth $340,000 after buying an additional 175 shares during the last quarter. Finally, Horst & Graben Wealth Management LLC grew its stake 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 worth $426,000 after buying an additional 179 shares during 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 bought 1,823 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Cantor Fitzgerald increased their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company increased their target price 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. Bank of America reiterated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Truist Financial increased their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $63.00 on Tuesday. The company has a market cap of $127.85 billion, a P/E ratio of -14.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The stock’s fifty day moving average price is $57.53 and its 200-day moving average price is $55.28. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.16.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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 forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 3.94%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

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.