Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 4,681,038 shares of the biopharmaceutical company’s stock after purchasing an additional 27,232 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Bristol-Myers Squibb were worth $264,760,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Trust Point Inc. boosted its position in shares of Bristol-Myers Squibb by 1.9% during the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after acquiring an additional 172 shares in the last quarter. Horst & Graben Wealth Management LLC boosted its holdings in Bristol-Myers Squibb by 2.4% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after purchasing an additional 179 shares in the last quarter. Meridian Management Co. raised its holdings in shares of Bristol-Myers Squibb by 0.6% in the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after buying an additional 182 shares in the last quarter. Drive Wealth Management LLC lifted its position in shares of Bristol-Myers Squibb by 2.1% during the 4th quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company’s stock worth $502,000 after buying an additional 182 shares during the period. Finally, Hollencrest Capital Management grew its position in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $57.43 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The business’s fifty day moving average is $57.65 and its 200-day moving average is $53.63. The company has a market cap of $116.47 billion, a P/E ratio of -16.00, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Equities research analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.32%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BMY. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets lifted their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Truist Financial increased their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Bank of America reissued a “neutral” rating and issued a $63.00 price objective 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, twelve have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.14.

Get Our Latest Analysis on BMY

Bristol-Myers Squibb Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb (NYSE:BMYFree Report).

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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