Allstate Corp Purchases New Holdings in Bristol-Myers Squibb (NYSE:BMY)

Allstate Corp bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 4th quarter, according to 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.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Wealthspire Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 0.6% during the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company's stock valued at $1,622,000 after purchasing an additional 170 shares in the last quarter. Edmp Inc. lifted its stake in Bristol-Myers Squibb by 0.4% in the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company's stock valued at $2,353,000 after buying an additional 171 shares in the last quarter. Trust Point Inc. boosted its holdings in shares of Bristol-Myers Squibb by 1.9% in the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company's stock valued at $533,000 after buying an additional 172 shares during the period. Bedel Financial Consulting Inc. increased its position in shares of Bristol-Myers Squibb by 3.2% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company's stock worth $340,000 after acquiring an additional 175 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC boosted its stake in Bristol-Myers Squibb by 2.4% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company's stock worth $426,000 after purchasing an additional 179 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded down $0.41 on Thursday, hitting $59.19. The company had a trading volume of 4,136,442 shares, compared to its average volume of 12,704,499. The stock has a 50 day moving average price of $58.74 and a 200 day moving average price of $56.54. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a market cap of $120.44 billion, a price-to-earnings ratio of -13.39, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33.

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 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%. Analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is -56.11%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group upgraded Bristol-Myers Squibb from a "hold" rating to a "buy" rating and boosted their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Truist Financial boosted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Wells Fargo & Company raised their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Bank of America restated a "neutral" rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Citigroup lifted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was bought 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 in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company's stock.

Bristol-Myers Squibb 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.