California Public Employees Retirement System Has $367.96 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

California Public Employees Retirement System lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 21.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,505,730 shares of the biopharmaceutical company’s stock after selling 1,820,805 shares during the period. California Public Employees Retirement System’s holdings in Bristol-Myers Squibb were worth $367,964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Norges Bank bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $1,989,525,000. Raymond James Financial Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $257,618,000. Schroder Investment Management Group raised its holdings in shares of Bristol-Myers Squibb by 49.7% in the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after buying an additional 3,787,075 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Bristol-Myers Squibb by 695.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after buying an additional 3,107,672 shares during the period. Finally, National Bank of Canada FI boosted its stake in Bristol-Myers Squibb by 194.7% in the 3rd quarter. National Bank of Canada FI now owns 2,506,741 shares of the biopharmaceutical company’s stock valued at $129,698,000 after buying an additional 1,656,141 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 2.0 %

BMY opened at $60.10 on Friday. The firm has a 50 day simple moving average of $58.55 and a 200 day simple moving average of $56.30. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a market cap of $121.96 billion, a price-to-earnings ratio of -13.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

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 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 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 4.13%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insider Activity at Bristol-Myers Squibb

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BMY shares. Wells Fargo & Company increased their price objective on 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. Truist Financial lifted their price target 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. Citigroup upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Cantor Fitzgerald boosted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Bank of America reaffirmed a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Company 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.