iA Global Asset Management Inc. Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

iA Global Asset Management Inc. grew its position in Bristol-Myers Squibb (NYSE:BMY) by 28.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,732 shares of the biopharmaceutical company’s stock after acquiring an additional 21,957 shares during the period. iA Global Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $5,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Magnetar Financial LLC boosted its holdings in shares of Bristol-Myers Squibb by 540.4% in the fourth quarter. Magnetar Financial LLC now owns 216,407 shares of the biopharmaceutical company’s stock valued at $12,240,000 after acquiring an additional 182,616 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Bristol-Myers Squibb by 293.1% in the fourth quarter. Teacher Retirement System of Texas now owns 1,406,647 shares of the biopharmaceutical company’s stock valued at $79,560,000 after acquiring an additional 1,048,806 shares in the last quarter. Generali Investments Management Co LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $1,124,000. Investment House LLC boosted its holdings in shares of Bristol-Myers Squibb by 3.7% in the fourth quarter. Investment House LLC now owns 51,909 shares of the biopharmaceutical company’s stock valued at $2,936,000 after acquiring an additional 1,849 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Bristol-Myers Squibb by 165.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 6,828 shares of the biopharmaceutical company’s stock valued at $386,000 after acquiring an additional 4,259 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $60.39 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company has a market capitalization of $122.56 billion, a price-to-earnings ratio of -13.66, a PEG ratio of 2.07 and a beta of 0.43. The company’s 50 day simple moving average is $58.07 and its 200 day simple moving average is $55.82. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33.

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 the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.11%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Analyst Ratings Changes

BMY has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Truist Financial upped their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup upped their target price 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, Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $57.86.

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.