Sompo Asset Management Co. Ltd. Sells 5,066 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sompo Asset Management Co. Ltd. lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,714 shares of the biopharmaceutical company’s stock after selling 5,066 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Bristol-Myers Squibb were worth $2,529,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BMY. Fairway Wealth LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $28,000. Transce3nd LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $34,000. Westend Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $38,000. Finally, Tacita Capital Inc purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $39,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $49.82 on Wednesday. The firm has a market cap of $101.37 billion, a price-to-earnings ratio of -11.27, a PEG ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. 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 company’s 50 day moving average is $56.71 and its 200 day moving average is $56.59.

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

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.98%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analyst Ratings Changes

A number of research firms have recently commented on BMY. Citigroup increased their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. UBS Group reduced their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday. Wells Fargo & Company boosted 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. Finally, Truist Financial raised their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.13.

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.