Generali Asset Management SPA SGR Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Generali Asset Management SPA SGR purchased a new position in Bristol-Myers Squibb (NYSE:BMY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 283,961 shares of the biopharmaceutical company's stock, valued at approximately $16,061,000.

Several other institutional investors have also recently added to or reduced their stakes in BMY. Fairway Wealth LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the third quarter valued at $29,000. Dunhill Financial LLC increased its stake 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 purchasing an additional 189 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $34,000. Finally, Westend Capital Management LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $38,000. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Price Performance

BMY stock traded up $0.64 during trading on Friday, hitting $61.06. The company had a trading volume of 25,864,960 shares, compared to its average volume of 12,180,118. 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 business has a 50 day moving average of $58.17 and a 200 day moving average of $55.89. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The firm has a market capitalization of $123.92 billion, a price-to-earnings ratio of -13.82, a P/E/G ratio of 2.07 and a beta of 0.43.

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Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping 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%. As a group, research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -56.11%.

Wall Street Analyst Weigh In

BMY has been the subject of several recent research reports. Bank of America reiterated a "neutral" rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Cantor Fitzgerald boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Truist Financial boosted their price target 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. Citigroup boosted their price target 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. Finally, Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of "Hold" and a consensus target price of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the company's stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

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.