Nomura Asset Management Co. Ltd. Trims Position in Bristol-Myers Squibb (NYSE:BMY)

Nomura Asset Management Co. Ltd. reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,264,072 shares of the biopharmaceutical company’s stock after selling 20,072 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.06% of Bristol-Myers Squibb worth $71,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BMY. Frazier Financial Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 91.7% in the 4th quarter. Frazier Financial Advisors LLC now owns 694 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 332 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $7,111,000. Providence Capital Advisors LLC boosted its holdings in Bristol-Myers Squibb by 0.4% during the fourth quarter. Providence Capital Advisors LLC now owns 52,480 shares of the biopharmaceutical company’s stock worth $2,968,000 after buying an additional 221 shares in the last quarter. Norges Bank purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $1,989,525,000. Finally, Caisse Des Depots ET Consignations purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $3,251,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of several research analyst reports. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Wells Fargo & Company boosted 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 report on Friday, February 7th. Truist Financial increased their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald boosted their target price 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, Bank of America reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Trading Down 0.5 %

Shares of BMY opened at $58.90 on Friday. 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 $119.52 billion, a P/E ratio of -13.33, a P/E/G ratio of 2.07 and a beta of 0.43. The firm has a 50-day moving average price of $58.47 and a 200 day moving average price of $56.17. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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 negative net margin of 18.53% and a positive return on equity of 13.93%. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Friday, April 4th. 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.