Pensionfund Sabic Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Pensionfund Sabic raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 32.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 40,500 shares of the biopharmaceutical company’s stock after purchasing an additional 10,000 shares during the period. Pensionfund Sabic’s holdings in Bristol-Myers Squibb were worth $2,291,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC lifted its position in shares of Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after acquiring an additional 4,275,787 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Bristol-Myers Squibb by 86.3% during the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after acquiring an additional 3,495,704 shares during the last quarter. Jennison Associates LLC increased its holdings in Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock valued at $219,443,000 after acquiring an additional 3,425,789 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Bristol-Myers Squibb by 695.1% during the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after purchasing an additional 3,107,672 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Bristol-Myers Squibb by 18.7% in the third 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 last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.51 during trading on Monday, reaching $56.06. 1,165,497 shares of the company’s stock traded hands, compared to its average volume of 6,381,392. The firm has a market cap of $113.70 billion, a PE ratio of -15.62, a P/E/G ratio of 15.20 and a beta of 0.45. The company has a 50-day simple moving average of $57.14 and a 200-day simple moving average of $51.04. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $2.00 earnings per share. As a group, analysts predict that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be paid a $0.62 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -69.08%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America restated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $55.64.

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.