APG Asset Management US Inc. Grows Stock Position in Bristol-Myers Squibb (NYSE:BMY)

APG Asset Management US Inc. grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 42.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,897 shares of the biopharmaceutical company’s stock after buying an additional 12,546 shares during the period. APG Asset Management US Inc.’s holdings in Bristol-Myers Squibb were worth $2,370,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Martingale Asset Management L P increased its holdings in shares of Bristol-Myers Squibb by 119.8% in the 4th quarter. Martingale Asset Management L P now owns 505,139 shares of the biopharmaceutical company’s stock worth $28,571,000 after buying an additional 275,282 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Bristol-Myers Squibb by 220.2% in the fourth quarter. APG Asset Management N.V. now owns 1,608,400 shares of the biopharmaceutical company’s stock worth $87,852,000 after buying an additional 1,106,075 shares during the period. Advisory Services Network LLC raised its position in Bristol-Myers Squibb by 15.6% during the 4th quarter. Advisory Services Network LLC now owns 101,250 shares of the biopharmaceutical company’s stock valued at $5,727,000 after purchasing an additional 13,634 shares during the last quarter. Abacus FCF Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 66.2% during the fourth quarter. Abacus FCF Advisors LLC now owns 203,358 shares of the biopharmaceutical company’s stock valued at $11,502,000 after acquiring an additional 81,017 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Bristol-Myers Squibb by 16.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,060,533 shares of the biopharmaceutical company’s stock worth $59,984,000 after acquiring an additional 151,995 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on 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 transaction, the executive vice president now 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of several research reports. Truist Financial upped their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald increased their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday. Finally, Bank of America reissued a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $57.67.

Bristol-Myers Squibb Stock Down 4.0 %

BMY stock opened at $52.97 on Wednesday. The business’s 50-day moving average is $58.28 and its two-hundred day moving average is $56.72. The company has a market cap of $107.78 billion, a price-to-earnings ratio of -11.98, a P/E/G ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio 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.