Capital Group Private Client Services Inc. Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Capital Group Private Client Services Inc. boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 73.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 816,602 shares of the biopharmaceutical company's stock after acquiring an additional 345,464 shares during the quarter. Capital Group Private Client Services Inc.'s holdings in Bristol-Myers Squibb were worth $46,187,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Capital International Investors boosted its holdings in shares of Bristol-Myers Squibb by 7.5% in the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after purchasing an additional 3,218,865 shares during the period. Capital International Sarl boosted its stake in Bristol-Myers Squibb by 31.7% during the fourth quarter. Capital International Sarl now owns 154,092 shares of the biopharmaceutical company's stock worth $8,715,000 after buying an additional 37,067 shares during the period. First Commonwealth Financial Corp PA bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $227,000. Demars Financial Group LLC bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $49,866,000. Finally, MSH Capital Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $534,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on BMY shares. Wells Fargo & Company raised their price objective 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. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Truist Financial increased 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. Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, Citigroup lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Two research 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 stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $57.67.

Bristol-Myers Squibb Stock Down 0.3 %

Bristol-Myers Squibb stock opened at $49.24 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The business has a fifty day moving average of $57.11 and a two-hundred day moving average of $56.66. The firm has a market cap of $100.18 billion, a P/E ratio of -11.14, a P/E/G ratio of 2.07 and a beta of 0.41. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 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, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.04%. Bristol-Myers Squibb's dividend payout ratio is presently -56.11%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the 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 owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.07% of the company's stock.

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.

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