BT Investment Management Ltd grew its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 51.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 164,354 shares of the biopharmaceutical company’s stock after purchasing an additional 56,032 shares during the quarter. BT Investment Management Ltd’s holdings in Bristol-Myers Squibb were worth $10,506,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in BMY. Sphera Funds Management LTD. acquired a new position in shares of Bristol-Myers Squibb in the first quarter worth approximately $8,157,000. Segantii Capital Management Ltd bought a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $544,000. Columbia Asset Management increased its holdings in shares of Bristol-Myers Squibb by 4.1% during the first quarter. Columbia Asset Management now owns 16,574 shares of the biopharmaceutical company’s stock valued at $901,000 after acquiring an additional 650 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Bristol-Myers Squibb by 4.3% during the first quarter. Legal & General Group Plc now owns 8,213,428 shares of the biopharmaceutical company’s stock valued at $446,664,000 after acquiring an additional 335,795 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Bristol-Myers Squibb by 1.8% during the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after acquiring an additional 1,223,457 shares in the last quarter. 69.66% of the stock is currently owned by hedge funds and other institutional investors.
Bristol-Myers Squibb Co (NYSE BMY) opened at $61.75 on Friday. The firm has a market capitalization of $101,070.00, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.20 and a beta of 1.18. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. Bristol-Myers Squibb Co has a one year low of $46.01 and a one year high of $66.10.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, January 4th. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 2.59%. Bristol-Myers Squibb’s dividend payout ratio is 61.42%.
In related news, EVP Sandra Leung sold 156,582 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the transaction, the executive vice president now directly owns 584,373 shares in the company, valued at approximately $37,031,717.01. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Theodore R. Samuels II purchased 4,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average price of $62.30 per share, for a total transaction of $249,200.00. Following the completion of the transaction, the director now owns 22,000 shares in the company, valued at $1,370,600. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by corporate insiders.
Several research firms have recently commented on BMY. Citigroup set a $72.00 price objective on Bristol-Myers Squibb and gave the company a “buy” rating in a report on Wednesday, October 25th. BMO Capital Markets set a $49.00 price objective on Bristol-Myers Squibb and gave the company a “sell” rating in a report on Thursday, October 26th. Vetr cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $59.70 price target on the stock. in a research report on Friday, December 22nd. Goldman Sachs Group reissued a “buy” rating and set a $65.00 price objective (up previously from $62.00) on shares of Bristol-Myers Squibb in a report on Thursday, September 7th. Finally, Credit Suisse Group reissued a “hold” rating on shares of Bristol-Myers Squibb in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $64.42.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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