GQG Partners LLC Acquires Shares of 52,856 Bristol-Myers Squibb (NYSE:BMY)

GQG Partners LLC bought a new position in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 52,856 shares of the biopharmaceutical company’s stock, valued at approximately $2,990,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Vanguard Group Inc. raised its stake in shares of Bristol-Myers Squibb by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock valued at $10,743,262,000 after acquiring an additional 1,373,209 shares during the last quarter. State Street Corp increased its holdings in Bristol-Myers Squibb by 1.6% during the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after purchasing an additional 1,451,214 shares during the period. FMR LLC raised its position in 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 purchasing an additional 4,275,787 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Bristol-Myers Squibb by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after buying an additional 1,036,495 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Bristol-Myers Squibb by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock valued at $1,398,948,000 after buying an additional 1,482,410 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of a number of research analyst reports. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Bank of America reissued a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Citigroup lifted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Truist Financial increased their target price 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. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Trading Up 0.0 %

NYSE:BMY opened at $61.09 on Tuesday. The stock has a market cap of $123.98 billion, a price-to-earnings ratio of -13.82, a PEG ratio of 2.07 and a beta of 0.43. 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 company’s 50 day moving average price is $58.29 and its 200-day moving average price is $56.05. 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 earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping 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%. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $54.84 per share, for a total transaction 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 $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Company 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.