Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,166,177 shares of the biopharmaceutical company’s stock after selling 144,826 shares during the quarter. Cullen Capital Management LLC owned approximately 0.06% of Bristol-Myers Squibb worth $65,959,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BMY. Truist Financial Corp boosted its holdings in shares of Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after buying an additional 60,365 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $488,000. Inspire Trust Co. N.A. raised its position in shares of Bristol-Myers Squibb by 39.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after purchasing an additional 29,044 shares during the period. iA Global Asset Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock worth $3,972,000 after purchasing an additional 34,418 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Bristol-Myers Squibb by 14.0% during the 4th quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company’s stock valued at $4,451,000 after purchasing an additional 9,692 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BMY shares. Cantor Fitzgerald raised 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. Truist Financial boosted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded 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 note on Monday, December 16th. Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $57.86.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $55.32 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The business’s fifty day moving average is $58.62 and its two-hundred day moving average is $56.58. The stock has a market capitalization of $112.56 billion, a P/E ratio of -12.52, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS 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, research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company 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. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.48%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

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.