Sumitomo Mitsui Trust Group Inc. Buys 27,232 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,681,038 shares of the biopharmaceutical company’s stock after purchasing an additional 27,232 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Bristol-Myers Squibb worth $264,760,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. AMF Tjanstepension AB raised its stake in shares of Bristol-Myers Squibb by 6.9% during the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after acquiring an additional 39,419 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at $371,000. Brookstone Capital Management boosted its position in shares of Bristol-Myers Squibb by 11.1% in the 3rd quarter. Brookstone Capital Management now owns 167,639 shares of the biopharmaceutical company’s stock worth $8,674,000 after purchasing an additional 16,744 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter worth $71,000. Finally, CWM LLC increased its position in Bristol-Myers Squibb by 7.1% during the 3rd quarter. CWM LLC now owns 581,448 shares of the biopharmaceutical company’s stock valued at $30,084,000 after buying an additional 38,761 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 3.8 %

BMY stock opened at $57.43 on Friday. The firm’s fifty day moving average is $57.65 and its 200 day moving average is $53.63. The firm has a market cap of $116.47 billion, a PE ratio of -16.00, a P/E/G ratio of 2.10 and a beta of 0.45. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. 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 (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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%. On average, research analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.32%. 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 payout ratio is presently -69.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BMY shares. Morgan Stanley boosted their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Finally, Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $57.14.

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.