CIBC Asset Management Inc Purchases 12,702 Shares of Bristol-Myers Squibb (NYSE:BMY)

CIBC Asset Management Inc lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 381,648 shares of the biopharmaceutical company’s stock after purchasing an additional 12,702 shares during the period. CIBC Asset Management Inc’s holdings in Bristol-Myers Squibb were worth $21,586,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. State Street Corp lifted its holdings in Bristol-Myers Squibb by 1.6% in the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after buying an additional 1,451,214 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Bristol-Myers Squibb by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after acquiring an additional 1,968,729 shares during the period. FMR LLC increased its position in Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Geode Capital Management LLC raised its holdings in Bristol-Myers Squibb by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after purchasing an additional 1,036,495 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after purchasing an additional 3,002,418 shares during the period. 76.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BMY. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Truist Financial increased their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Citigroup upped their price target 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. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Trading Down 3.8 %

Shares of NYSE:BMY opened at $53.85 on Tuesday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The stock’s fifty day moving average price is $57.21 and its 200-day moving average price is $54.15. The company has a market cap of $109.22 billion, a P/E ratio of -12.18, a PEG ratio of 2.13 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping 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 13.81%. Sell-side analysts expect that Bristol-Myers Squibb will post 6.75 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.61%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Bristol-Myers Squibb Company 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.