Avanza Fonder AB Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Avanza Fonder AB bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 218,226 shares of the biopharmaceutical company's stock, valued at approximately $12,343,000.

Several other institutional investors also recently bought and sold shares of BMY. E Fund Management Co. Ltd. increased its holdings in Bristol-Myers Squibb by 13.2% during the 2nd quarter. E Fund Management Co. Ltd. now owns 7,190 shares of the biopharmaceutical company's stock worth $299,000 after purchasing an additional 840 shares during the period. Seven Eight Capital LP acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth about $392,000. Altrius Capital Management Inc raised its holdings in Bristol-Myers Squibb by 26.1% in the second quarter. Altrius Capital Management Inc now owns 97,042 shares of the biopharmaceutical company's stock valued at $4,030,000 after acquiring an additional 20,100 shares in the last quarter. Miramar Capital LLC grew its holdings in Bristol-Myers Squibb by 41.4% during the 2nd quarter. Miramar Capital LLC now owns 8,876 shares of the biopharmaceutical company's stock worth $369,000 after acquiring an additional 2,600 shares in the last quarter. Finally, XTX Topco Ltd increased its position in shares of Bristol-Myers Squibb by 400.3% in the 2nd quarter. XTX Topco Ltd now owns 91,465 shares of the biopharmaceutical company's stock valued at $3,799,000 after purchasing an additional 73,183 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wolfe Research started coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a "peer perform" rating on the stock. Truist Financial upped their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Barclays lifted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Morgan Stanley raised their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. Finally, UBS Group raised their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $56.27.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded down $0.03 on Friday, hitting $56.35. 10,909,530 shares of the company's stock were exchanged, compared to its average volume of 10,195,547. The firm has a market cap of $114.30 billion, a price-to-earnings ratio of -15.70, a P/E/G ratio of 1.95 and a beta of 0.45. The firm's 50-day moving average price is $57.53 and its two-hundred day moving average price is $51.92. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.26 billion. During the same quarter in the prior year, the business posted $2.00 earnings per share. Bristol-Myers Squibb's revenue was up 8.4% compared to the same quarter last year. On average, research analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.40%. Bristol-Myers Squibb's dividend payout ratio (DPR) is -69.08%.

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.