Resona Asset Management Co. Ltd. Acquires New Stake in Bristol-Myers Squibb (NYSE:BMY)

Resona Asset Management Co. Ltd. bought a new position in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 656,319 shares of the biopharmaceutical company’s stock, valued at approximately $37,224,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Advisors of Tampa Bay LLC increased its stake in Bristol-Myers Squibb by 0.4% during the 4th quarter. Wealth Advisors of Tampa Bay LLC now owns 71,778 shares of the biopharmaceutical company’s stock valued at $4,060,000 after purchasing an additional 306 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $396,000. Thoroughbred Financial Services LLC increased its position in shares of Bristol-Myers Squibb by 1.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock valued at $1,004,000 after acquiring an additional 190 shares in the last quarter. Foundry Partners LLC bought a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $23,002,000. Finally, Atlas Capital Advisors Inc. boosted its stake in Bristol-Myers Squibb by 487.0% during the 4th quarter. Atlas Capital Advisors Inc. now owns 18,785 shares of the biopharmaceutical company’s stock valued at $1,062,000 after purchasing an additional 15,585 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $55.32 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The stock has a market cap of $112.56 billion, a price-to-earnings ratio of -12.52, a PEG ratio of 2.07 and a beta of 0.43. The company’s 50 day moving average is $58.62 and its two-hundred day moving average is $56.58.

Bristol-Myers Squibb (NYSE:BMY) last announced 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 negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BMY. Cantor Fitzgerald upped their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Truist Financial raised their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Citigroup boosted their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb 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.