AssuredPartners Investment Advisors LLC Invests $577,000 in Bristol-Myers Squibb (NYSE:BMY)

AssuredPartners Investment Advisors LLC bought a new stake in Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,205 shares of the biopharmaceutical company’s stock, valued at approximately $577,000.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at $257,618,000. Janus Henderson Group PLC increased 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 worth $183,971,000 after acquiring an additional 3,107,672 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 acquiring an additional 3,002,418 shares during the last quarter. National Bank of Canada FI lifted its position in Bristol-Myers Squibb by 194.7% in the 3rd quarter. National Bank of Canada FI now owns 2,506,741 shares of the biopharmaceutical company’s stock valued at $129,698,000 after acquiring an additional 1,656,141 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Bristol-Myers Squibb by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock valued at $1,398,948,000 after purchasing an additional 1,482,410 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on BMY. Truist Financial upped their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Bank of America reiterated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Cantor Fitzgerald increased 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 note on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $58.90 on Friday. The firm’s 50 day moving average price is $58.47 and its 200-day moving average price is $56.17. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $119.52 billion, a PE ratio of -13.33, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 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 positive return on equity of 13.93% and a negative net margin of 18.53%. Equities research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

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.