Aljian Capital Management LLC Invests $780,000 in Bristol-Myers Squibb (NYSE:BMY)

Aljian Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 15,080 shares of the biopharmaceutical company's stock, valued at approximately $780,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. Capital International Investors grew its position in shares of Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company's stock valued at $3,807,153,000 after acquiring an additional 8,675,322 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company's stock valued at $680,469,000 after purchasing an additional 5,461,767 shares during the period. Federated Hermes Inc. increased its position in Bristol-Myers Squibb by 86.3% in the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company's stock worth $313,398,000 after buying an additional 3,495,704 shares in the last quarter. Swedbank AB bought a new position in shares of Bristol-Myers Squibb in the first quarter worth about $158,223,000. Finally, State of Michigan Retirement System lifted its position in shares of Bristol-Myers Squibb by 147.7% during the 2nd quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company's stock valued at $197,979,000 after buying an additional 2,842,400 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Phil M. Holzer sold 700 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BMY shares. UBS Group raised their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Citigroup lifted their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Morgan Stanley increased 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. Cantor Fitzgerald restated a "neutral" rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Barclays increased their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of "Hold" and a consensus target price of $54.07.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded up $0.50 during trading hours on Monday, hitting $56.72. 3,879,833 shares of the stock were exchanged, compared to its average volume of 14,415,738. The company has a market cap of $115.04 billion, a P/E ratio of -15.65, a P/E/G ratio of 15.23 and a beta of 0.44. The firm's fifty day moving average price is $52.73 and its 200 day moving average price is $47.27. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the business posted $2.00 earnings per share. Bristol-Myers Squibb's quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.23%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -66.85%.

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.