AIA Group Ltd Buys 31,792 Shares of Bristol-Myers Squibb (NYSE:BMY)

AIA Group Ltd boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 56.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 87,768 shares of the biopharmaceutical company's stock after acquiring an additional 31,792 shares during the quarter. AIA Group Ltd's holdings in Bristol-Myers Squibb were worth $4,760,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BMY. Comerica Bank boosted its stake in shares of Bristol-Myers Squibb by 96.1% in the 3rd quarter. Comerica Bank now owns 748,822 shares of the biopharmaceutical company's stock valued at $43,462,000 after purchasing an additional 367,044 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Bristol-Myers Squibb by 11.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 223,779 shares of the biopharmaceutical company's stock valued at $12,988,000 after purchasing an additional 22,610 shares during the last quarter. Harvest Investment Advisors LLC raised its position in shares of Bristol-Myers Squibb by 1.7% in the 3rd quarter. Harvest Investment Advisors LLC now owns 21,461 shares of the biopharmaceutical company's stock valued at $1,246,000 after acquiring an additional 364 shares during the period. Fortis Group Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $202,000. Finally, VisionPoint Advisory Group LLC raised its position in shares of Bristol-Myers Squibb by 300.5% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company's stock valued at $43,000 after acquiring an additional 553 shares during the period. Institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BMY. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an "equal weight" rating in a research report on Thursday, April 18th. StockNews.com downgraded shares of Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Thursday, June 27th. William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays dropped their target price on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, BMO Capital Markets decreased their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a "market perform" rating for the company in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $59.50.

Bristol-Myers Squibb Price Performance

BMY stock traded down $0.28 during midday trading on Friday, reaching $40.47. The company had a trading volume of 16,665,725 shares, compared to its average volume of 15,691,328. The company has a market capitalization of $82.04 billion, a price-to-earnings ratio of -13.05, a price-to-earnings-growth ratio of 14.07 and a beta of 0.44. The stock has a 50 day moving average price of $41.92 and a 200-day moving average price of $47.39. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $65.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts' consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. Equities research analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -77.42%.

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.

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