Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Korea Investment CORP

Korea Investment CORP boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,998,632 shares of the biopharmaceutical company’s stock after buying an additional 9,567 shares during the quarter. Korea Investment CORP owned 0.10% of Bristol-Myers Squibb worth $113,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $28,000. Dunhill Financial LLC increased its position in shares of Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $34,000. Westend Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $38,000. Finally, Tacita Capital Inc purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $39,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BMY shares. Wells Fargo & Company upped 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 report on Friday, February 7th. Bank of America reiterated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Citigroup boosted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Trading Down 0.0 %

Shares of BMY opened at $59.18 on Thursday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The firm has a market capitalization of $120.08 billion, a P/E ratio of -13.39, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock’s fifty day simple moving average is $58.42 and its 200 day simple moving average is $56.15.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction on Friday, February 14th. The stock was bought 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 of the company’s stock, 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 legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

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.