KLP Kapitalforvaltning AS Buys Shares of 1,285,758 Bristol-Myers Squibb (NYSE:BMY)

KLP Kapitalforvaltning AS acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, Holdings Channel.com reports. The firm acquired 1,285,758 shares of the biopharmaceutical company’s stock, valued at approximately $72,722,000.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $257,618,000. FMR LLC boosted its position in shares of Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after acquiring an additional 4,275,787 shares during the last quarter. Janus Henderson Group PLC raised its stake in Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after purchasing an additional 3,107,672 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after buying an additional 3,002,418 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Bristol-Myers Squibb by 194.7% during the 3rd quarter. National Bank of Canada FI now owns 2,506,741 shares of the biopharmaceutical company’s stock valued at $129,698,000 after buying an additional 1,656,141 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 1.1 %

NYSE:BMY opened at $61.06 on Friday. The firm has a market capitalization of $123.92 billion, a P/E ratio of -13.82, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The company’s 50-day simple moving average is $58.17 and its 200 day simple moving average is $55.89.

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 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%. As a group, analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.06%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BMY shares. Wells Fargo & Company boosted 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 report on Friday, February 7th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Cantor Fitzgerald raised 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 boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Two 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, the company has a consensus rating of “Hold” and an average price target of $57.86.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

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.