Krane Funds Advisors LLC Sells 1,665 Shares of Bristol-Myers Squibb (NYSE:BMY)

Krane Funds Advisors LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 15.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,088 shares of the biopharmaceutical company’s stock after selling 1,665 shares during the quarter. Krane Funds Advisors LLC’s holdings in Bristol-Myers Squibb were worth $514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $1,989,525,000. Wellington Management Group LLP raised its position in shares of Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after purchasing an additional 5,827,317 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $257,618,000. Schroder Investment Management Group boosted its stake in Bristol-Myers Squibb by 49.7% during the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock valued at $639,837,000 after purchasing an additional 3,787,075 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Bristol-Myers Squibb by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock worth $1,398,948,000 after buying an additional 1,482,410 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BMY shares. Wells Fargo & Company increased their price objective 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. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Bank of America reaffirmed a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Cantor Fitzgerald boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Truist Financial raised their price objective 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. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Trading Down 4.3 %

BMY stock opened at $55.32 on Monday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The stock has a market capitalization of $112.56 billion, a price-to-earnings ratio of -12.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. 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 fifty day simple moving average is $58.62 and its two-hundred day simple moving average is $56.68.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, analysts anticipate 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. Stockholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -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.