abrdn plc Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

abrdn plc lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,982,769 shares of the biopharmaceutical company’s stock after selling 49,455 shares during the quarter. abrdn plc’s holdings in Bristol-Myers Squibb were worth $167,885,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Trust Point Inc. lifted its holdings in Bristol-Myers Squibb by 1.9% during the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after purchasing an additional 172 shares in the last quarter. Childress Capital Advisors LLC raised its position in shares of Bristol-Myers Squibb by 17.6% during the 4th quarter. Childress Capital Advisors LLC now owns 7,018 shares of the biopharmaceutical company’s stock valued at $397,000 after purchasing an additional 1,051 shares during the period. F&V Capital Management LLC lifted its stake in shares of Bristol-Myers Squibb by 0.9% during the 4th quarter. F&V Capital Management LLC now owns 172,158 shares of the biopharmaceutical company’s stock valued at $9,737,000 after buying an additional 1,600 shares in the last quarter. GEN Financial Management INC. purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth $222,000. Finally, Fourpath Capital Management LLC raised its holdings in Bristol-Myers Squibb by 1.9% during the fourth quarter. Fourpath Capital Management LLC now owns 24,549 shares of the biopharmaceutical company’s stock valued at $1,388,000 after acquiring an additional 466 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wolfe Research initiated coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Barclays lifted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Bank of America reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $56.60.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $60.03 on Tuesday. The company has a market capitalization of $121.76 billion, a P/E ratio of -16.72, a P/E/G ratio of 2.10 and a beta of 0.45. The business’s 50-day moving average is $57.60 and its two-hundred day moving average is $53.34. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.13%. The ex-dividend date was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

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.