AQR Capital Management LLC Raises Holdings in Bristol-Myers Squibb (NYSE:BMY)

AQR Capital Management LLC lifted its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,006,797 shares of the biopharmaceutical company's stock after purchasing an additional 106,630 shares during the quarter. AQR Capital Management LLC owned about 0.20% of Bristol-Myers Squibb worth $226,624,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Truist Financial Corp raised its stake in Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock worth $90,335,000 after acquiring an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $488,000. Inspire Trust Co. N.A. boosted its position in Bristol-Myers Squibb by 39.0% in the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock valued at $5,355,000 after buying an additional 29,044 shares during the last quarter. Versant Capital Management Inc raised its position in Bristol-Myers Squibb by 14.0% during the 4th quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company's stock worth $4,451,000 after buying an additional 9,692 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $474,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 1,823 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was purchased 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 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 filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

BMY has been the subject of a number of research reports. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Citigroup boosted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Jefferies Financial Group decreased their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Argus upgraded shares of Bristol-Myers Squibb to a "hold" rating in a research report on Friday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of "Hold" and an average price target of $58.00.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $48.45 on Tuesday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The stock's fifty day moving average is $56.24 and its two-hundred day moving average is $56.50. The firm has a market capitalization of $98.58 billion, a P/E ratio of -10.96, a price-to-earnings-growth 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.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same period last year, the business earned ($4.40) earnings per share. Bristol-Myers Squibb's revenue was down 5.6% compared to the same quarter last year. On average, research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

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.

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