AIA Group Ltd Increases Position in Bristol-Myers Squibb (NYSE:BMY)

AIA Group Ltd lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,744 shares of the biopharmaceutical company’s stock after purchasing an additional 925 shares during the period. AIA Group Ltd’s holdings in Bristol-Myers Squibb were worth $1,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Bristol-Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after acquiring an additional 5,827,317 shares in the last quarter. Skba Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $209,000. O Shaughnessy Asset Management LLC boosted its holdings in Bristol-Myers Squibb by 11.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 613,378 shares of the biopharmaceutical company’s stock valued at $34,693,000 after purchasing an additional 61,998 shares in the last quarter. Bcwm LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $6,237,000. Finally, United Bank lifted its position in shares of Bristol-Myers Squibb by 16.9% during the 4th quarter. United Bank now owns 20,242 shares of the biopharmaceutical company’s stock worth $1,145,000 after buying an additional 2,920 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BMY shares. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their target price for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Bank of America reiterated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Cantor Fitzgerald lifted their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $57.86.

Insider Activity

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $61.05 on Tuesday. The firm has a market capitalization of $124.22 billion, a PE ratio of -13.81, a P/E/G ratio of 2.07 and a beta of 0.43. The stock’s 50 day moving average is $58.64 and its two-hundred day moving average is $56.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve 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.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 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 announced 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.06%. 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.