Sigma Investment Counselors Inc. lifted its position in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 70,423 shares of the biopharmaceutical company’s stock after acquiring an additional 411 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Bristol-Myers Squibb were worth $5,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Bristol-Myers Squibb by 2.2% during the 4th quarter. State Street Corp now owns 94,645,972 shares of the biopharmaceutical company’s stock worth $5,901,176,000 after buying an additional 2,020,678 shares during the period. Capital International Investors purchased a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $1,672,455,000. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $1,413,962,000. Primecap Management Co. CA increased its position in shares of Bristol-Myers Squibb by 1.2% during the first quarter. Primecap Management Co. CA now owns 22,370,375 shares of the biopharmaceutical company’s stock worth $1,633,708,000 after purchasing an additional 255,920 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Bristol-Myers Squibb by 17.0% during the fourth quarter. Deutsche Bank AG now owns 15,372,985 shares of the biopharmaceutical company’s stock worth $958,504,000 after purchasing an additional 2,232,347 shares in the last quarter. 76.54% of the stock is owned by hedge funds and other institutional investors.
Bristol-Myers Squibb Stock Down 1.2 %
Shares of NYSE:BMY traded down $0.82 during trading on Friday, hitting $70.47. 322,079 shares of the company were exchanged, compared to its average volume of 10,752,010. The firm’s 50 day moving average price is $72.13 and its 200-day moving average price is $74.01. Bristol-Myers Squibb has a 12-month low of $53.22 and a 12-month high of $80.59. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.44 and a quick ratio of 1.34. The stock has a market capitalization of $150.47 billion, a P/E ratio of 23.68, a PEG ratio of 1.47 and a beta of 0.43.
Bristol-Myers Squibb Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.07%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 71.76%.
Insider Activity at Bristol-Myers Squibb
In other news, EVP Ann Powell sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total value of $1,768,750.00. Following the completion of the transaction, the executive vice president now directly owns 50,476 shares of the company’s stock, valued at $3,571,177. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $70.75, for a total value of $1,768,750.00. Following the transaction, the executive vice president now directly owns 50,476 shares in the company, valued at approximately $3,571,177. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David V. Elkins sold 133,951 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $71.30, for a total transaction of $9,550,706.30. Following the transaction, the chief financial officer now owns 100,460 shares in the company, valued at $7,162,798. The disclosure for this sale can be found here. Insiders sold 233,951 shares of company stock worth $16,654,206 over the last 90 days. Company insiders own 0.09% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on BMY. JPMorgan Chase & Co. upped their target price on Bristol-Myers Squibb from $80.00 to $85.00 in a report on Thursday, July 28th. Bank of America increased their price target on Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 6th. BMO Capital Markets increased their price target on Bristol-Myers Squibb from $92.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday, September 12th. Raymond James cut Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. They noted that the move was a valuation call. Finally, UBS Group increased their price target on Bristol-Myers Squibb to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.36.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.
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