AIA Group Ltd Grows Position in Bristol-Myers Squibb (NYSE:BMY)

AIA Group Ltd grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 15.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 55,976 shares of the biopharmaceutical company’s stock after buying an additional 7,290 shares during the period. AIA Group Ltd’s holdings in Bristol-Myers Squibb were worth $2,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dakota Wealth Management acquired a new stake in Bristol-Myers Squibb during the first quarter worth about $332,000. Covestor Ltd increased its holdings in shares of Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 1,082 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after buying an additional 57,444 shares during the period. Ergoteles LLC purchased a new position in Bristol-Myers Squibb in the first quarter worth approximately $1,997,000. Finally, Mackenzie Financial Corp increased its stake in Bristol-Myers Squibb by 25.1% during the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock worth $24,725,000 after acquiring an additional 68,018 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of several recent analyst reports. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded up $0.39 during trading on Thursday, reaching $48.23. The company’s stock had a trading volume of 7,132,429 shares, compared to its average volume of 15,729,137. The business has a 50 day moving average price of $51.26 and a 200-day moving average price of $51.59. The company has a market capitalization of $97.75 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 1.49 and a beta of 0.39. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same period in the previous year, the firm earned $1.82 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.47 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Bristol-Myers Squibb Company 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.