Sumitomo Mitsui Financial Group Inc. Has $2.29 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Sumitomo Mitsui Financial Group Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 83.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 40,554 shares of the biopharmaceutical company’s stock after selling 207,409 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Bristol-Myers Squibb were worth $2,294,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Fairway Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $28,000. Dunhill Financial LLC lifted its holdings in shares of Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $34,000. Westend Capital Management LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $38,000. Finally, Tacita Capital Inc acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $39,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction on Friday, February 14th. The stock was purchased 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 owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Stock Down 4.3 %

NYSE BMY opened at $55.32 on Monday. The company has a market cap of $112.56 billion, a price-to-earnings ratio of -12.52, a PEG ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a 50 day moving average of $58.62 and a 200-day moving average of $56.68.

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

Bristol-Myers Squibb Announces Dividend

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

Analyst Ratings Changes

BMY has been the topic of several recent analyst reports. Bank of America reaffirmed a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Wells Fargo & Company upped 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 report on Friday, February 7th. Jefferies Financial Group raised 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. Truist Financial raised 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. Finally, Citigroup boosted their price target 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $57.86.

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.