Bank of New York Mellon Corp Boosts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Bank of New York Mellon Corp lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,733,868 shares of the biopharmaceutical company’s stock after acquiring an additional 1,482,410 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bristol-Myers Squibb were worth $1,398,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth $25,000. Hollencrest Capital Management raised its stake in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth about $28,000. Darwin Wealth Management LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter worth about $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BMY shares. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Truist Financial increased their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. 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 research report on Friday, February 7th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $57.86.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $57.83 on Tuesday. The company has a market capitalization of $117.34 billion, a price-to-earnings ratio of -13.08, a PEG ratio of 2.07 and a beta of 0.45. The business has a 50 day moving average of $57.03 and a 200 day moving average of $54.48. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

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.