Allianz SE Invests $5.68 Million in Bristol-Myers Squibb (NYSE:BMY)

Allianz SE bought a new stake in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to its most recent Form 13F 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.

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

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BMY has been the topic of several 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. Cantor Fitzgerald boosted their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Wells Fargo & Company raised their price objective on shares of 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. 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 report on Tuesday, January 28th. Finally, Truist Financial lifted their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Trading Up 2.0 %

Shares of BMY opened at $60.10 on Friday. The firm’s fifty day moving average is $58.55 and its two-hundred day moving average is $56.30. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a market cap of $121.96 billion, a PE ratio of -13.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) 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%. Research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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

Bristol-Myers Squibb 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.