CIBC Asset Management Inc Acquires 12,702 Shares of Bristol-Myers Squibb (NYSE:BMY)

CIBC Asset Management Inc grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 381,648 shares of the biopharmaceutical company's stock after buying an additional 12,702 shares during the period. CIBC Asset Management Inc's holdings in Bristol-Myers Squibb were worth $21,586,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Edmp Inc. grew its holdings in Bristol-Myers Squibb by 0.4% in the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company's stock worth $2,353,000 after purchasing an additional 171 shares during the period. Trust Point Inc. boosted its position in shares of Bristol-Myers Squibb by 1.9% in the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company's stock worth $533,000 after purchasing an additional 172 shares in the last quarter. Horst & Graben Wealth Management LLC grew its stake in shares of 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 buying an additional 179 shares during the last quarter. Meridian Management Co. increased its position in Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company's stock valued at $1,463,000 after buying an additional 182 shares in the last quarter. Finally, Drive Wealth Management LLC raised its stake in Bristol-Myers Squibb by 2.1% during the fourth quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company's stock valued at $502,000 after buying an additional 182 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost 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. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BMY. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 12th. 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. Bank of America reaffirmed a "neutral" rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and increased their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, Jefferies Financial Group raised Bristol-Myers Squibb from a "hold" rating to a "buy" rating and upped their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $57.86.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded up $0.06 on Friday, reaching $55.85. 11,100,311 shares of the stock were exchanged, compared to its average volume of 10,886,042. The firm has a market capitalization of $113.33 billion, a PE ratio of -12.63, a PEG ratio of 2.04 and a beta of 0.45. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The company's 50-day simple moving average is $56.99 and its two-hundred day simple moving average is $54.30. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

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

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.44%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -56.11%.

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.