Todd Asset Management LLC Takes $326,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Todd Asset Management LLC acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,759 shares of the biopharmaceutical company’s stock, valued at approximately $326,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB grew its holdings in shares of Bristol-Myers Squibb by 6.9% during the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after purchasing an additional 39,419 shares during the last quarter. Swedbank AB boosted its position in Bristol-Myers Squibb by 0.9% during the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after buying an additional 28,427 shares during the period. Assenagon Asset Management S.A. grew its holdings in Bristol-Myers Squibb by 12.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 64,191 shares of the biopharmaceutical company’s stock worth $3,321,000 after acquiring an additional 7,245 shares during the last quarter. Pettinga Financial Advisors LLC increased its position in Bristol-Myers Squibb by 8.7% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock valued at $575,000 after acquiring an additional 886 shares during the period. Finally, Salomon & Ludwin LLC raised its stake in shares of Bristol-Myers Squibb by 15.6% during the third quarter. Salomon & Ludwin LLC now owns 1,843 shares of the biopharmaceutical company’s stock valued at $95,000 after acquiring an additional 249 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In related news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMY. Morgan Stanley boosted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Citigroup upped their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $58.25 on Wednesday. The stock has a 50-day moving average of $57.05 and a 200-day moving average of $54.56. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The company has a market cap of $118.21 billion, a PE ratio of -13.18, a P/E/G ratio of 2.07 and a beta of 0.45.

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, beating the consensus estimate 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 predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.26%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. 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.