Allianz SE Acquires New Position in Bristol-Myers Squibb (NYSE:BMY)

Allianz SE bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 101,287 shares of the biopharmaceutical company’s stock, valued at approximately $5,679,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tucker Asset Management LLC raised its stake in shares of Bristol-Myers Squibb by 3,313.6% in the fourth quarter. Tucker Asset Management LLC now owns 4,779 shares of the biopharmaceutical company’s stock valued at $270,000 after acquiring an additional 4,639 shares in the last quarter. Intrust Bank NA lifted its stake in Bristol-Myers Squibb by 38.8% in the fourth quarter. Intrust Bank NA now owns 31,791 shares of the biopharmaceutical company’s stock worth $1,798,000 after acquiring an additional 8,894 shares during the last quarter. Biondo Investment Advisors LLC increased its position in shares of Bristol-Myers Squibb by 0.9% in the 4th quarter. Biondo Investment Advisors LLC now owns 142,200 shares of the biopharmaceutical company’s stock valued at $8,043,000 after purchasing an additional 1,260 shares during the last quarter. Allstate Corp purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $3,411,000. Finally, DnB Asset Management AS increased its holdings in Bristol-Myers Squibb by 47.2% in the fourth quarter. DnB Asset Management AS now owns 709,131 shares of the biopharmaceutical company’s stock valued at $40,108,000 after buying an additional 227,521 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Trading Up 2.0 %

NYSE:BMY opened at $60.10 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month 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 stock’s 50 day simple moving average is $58.55 and its 200-day simple moving average is $56.30. The firm has a market cap of $121.96 billion, a P/E ratio of -13.60, a PEG ratio of 2.07 and a beta of 0.43.

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, 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%. Equities analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BMY shares. Bank of America restated 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 objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Truist Financial upped their target price 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 lifted their price target 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. Finally, Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Two 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.