Bristol-Myers Squibb (NYSE:BMY) Stock Position Decreased by Nan Shan Life Insurance Co. Ltd.

Nan Shan Life Insurance Co. Ltd. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 26.4% in the 4th quarter, HoldingsChannel reports. The firm owned 943,596 shares of the biopharmaceutical company’s stock after selling 338,032 shares during the quarter. Bristol-Myers Squibb makes up about 1.3% of Nan Shan Life Insurance Co. Ltd.’s portfolio, making the stock its 21st biggest position. Nan Shan Life Insurance Co. Ltd.’s holdings in Bristol-Myers Squibb were worth $53,370,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Truist Financial Corp raised its holdings in shares of Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after acquiring an additional 60,365 shares during the period. Contravisory Investment Management Inc. purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth about $488,000. Decker Retirement Planning Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $474,000. Corundum Group Inc. increased its stake in Bristol-Myers Squibb by 67.8% in the 4th quarter. Corundum Group Inc. now owns 43,534 shares of the biopharmaceutical company’s stock valued at $2,462,000 after buying an additional 17,596 shares during the period. Finally, High Net Worth Advisory Group LLC grew its holdings in shares of Bristol-Myers Squibb by 42.2% during the 4th quarter. High Net Worth Advisory Group LLC now owns 16,974 shares of the biopharmaceutical company’s stock valued at $960,000 after acquiring an additional 5,040 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BMY shares. Citigroup lifted their price objective 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. Jefferies Financial Group cut their price objective on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.00.

Insider Buying and Selling

In other news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Trading Down 3.3%

Shares of BMY opened at $46.58 on Wednesday. The stock’s 50-day moving average price is $54.03 and its 200 day moving average price is $56.14. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The firm has a market capitalization of $94.79 billion, a price-to-earnings ratio of -10.54, a P/E/G ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($4.40) EPS. As a group, research analysts predict 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 was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were issued a $0.62 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.32%. Bristol-Myers Squibb’s payout ratio is presently 92.88%.

Bristol-Myers Squibb 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.