iA Global Asset Management Inc. Purchases 21,957 Shares of Bristol-Myers Squibb (NYSE:BMY)

iA Global Asset Management Inc. increased its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 28.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 98,732 shares of the biopharmaceutical company's stock after buying an additional 21,957 shares during the period. iA Global Asset Management Inc.'s holdings in Bristol-Myers Squibb were worth $5,584,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Truist Financial Corp boosted its position in Bristol-Myers Squibb by 3.9% during the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock valued at $90,335,000 after purchasing an additional 60,365 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $488,000. Inspire Trust Co. N.A. grew its position in shares of Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock worth $5,355,000 after acquiring an additional 29,044 shares during the last quarter. Bellevue Group AG bought a new stake in Bristol-Myers Squibb in the 3rd quarter valued at about $1,905,000. Finally, Versant Capital Management Inc boosted its stake in Bristol-Myers Squibb by 14.0% during the 4th quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company's stock valued at $4,451,000 after purchasing an additional 9,692 shares during the period. Institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

BMY has been the subject of a number of recent analyst reports. Bank of America reissued a "neutral" rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Cantor Fitzgerald increased their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. 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 research note on Tuesday, January 28th. Wells Fargo & Company increased their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and raised their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of "Hold" and an average price target of $57.86.

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Bristol-Myers Squibb Trading Down 3.0 %

BMY stock traded down $1.83 during trading on Tuesday, hitting $59.22. The company had a trading volume of 10,965,694 shares, compared to its average volume of 12,176,463. 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 has a 12 month low of $39.35 and a 12 month high of $63.33. The stock has a market cap of $120.18 billion, a price-to-earnings ratio of -13.40, a PEG ratio of 2.07 and a beta of 0.43. The firm has a 50-day moving average price of $58.29 and a 200-day moving average price of $56.05.

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

Bristol-Myers Squibb Dividend Announcement

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 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 yield of 4.19%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -56.11%.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were purchased 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 directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

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.