Allstate Corp Invests $3.41 Million in Bristol-Myers Squibb (NYSE:BMY)

Allstate Corp bought a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 60,310 shares of the biopharmaceutical company's stock, valued at approximately $3,411,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Dunhill Financial LLC lifted its position in Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 189 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $34,000. Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter worth $38,000. Finally, Tacita Capital Inc acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Price Performance

BMY traded up $1.03 during trading on Monday, hitting $61.05. The company's stock had a trading volume of 11,614,982 shares, compared to its average volume of 12,744,032. The firm has a market capitalization of $124.22 billion, a price-to-earnings ratio of -13.81, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The business's fifty day simple moving average is $58.64 and its 200 day simple moving average is $56.44. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

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Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results 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 negative net margin of 18.53% and a positive return on equity of 13.93%. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.06%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -56.11%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares of the company's stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BMY. Truist Financial boosted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Bank of America restated a "neutral" rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Cantor Fitzgerald increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Wells Fargo & Company boosted 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. Finally, Citigroup lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of "Hold" and a consensus 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.