Allstate Corp Acquires Shares of 60,310 Bristol-Myers Squibb (NYSE:BMY)

Allstate Corp bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 60,310 shares of the biopharmaceutical company’s stock, valued at approximately $3,411,000.

Several other institutional investors and hedge funds have also made changes to their positions in BMY. Fairway Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $28,000. Dunhill Financial LLC boosted its stake in Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 189 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $34,000. Westend Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $38,000. Finally, Tacita Capital Inc bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $39,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb 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 acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup raised their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial boosted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Bank of America restated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $60.10 on Friday. The firm has a 50-day moving average of $58.55 and a two-hundred day moving average of $56.30. The company has a market capitalization of $121.96 billion, a price-to-earnings ratio of -13.60, a PEG 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. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (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%. As a group, analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -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.