Allstate Corp Raises Stake in Bristol Myers Squibb Company $BMY

Key Points

• Allstate Corp more than doubled its Bristol Myers Squibb stake in the fourth quarter, increasing holdings by 102.8% to 151,053 shares valued at about $8.15 million.
• Institutional ownership remains high, with 76.41% of Bristol Myers Squibb’s stock held by hedge funds and other institutional investors, and several other funds also added or initiated positions.
• Analyst sentiment is mixed but cautious: the stock has a consensus rating of “Hold” with an average price target of $61.31, while recent coverage included both buy and hold/sector perform calls.

Allstate Corp increased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 102.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 151,053 shares of the biopharmaceutical company's stock after buying an additional 76,582 shares during the quarter. Allstate Corp's holdings in Bristol Myers Squibb were worth $8,148,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in Bristol Myers Squibb in the 2nd quarter valued at about $25,000. Physician Wealth Advisors Inc. raised its stake in Bristol Myers Squibb by 73.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 202 shares during the period. EQ Wealth Advisors LLC bought a new stake in Bristol Myers Squibb in the 4th quarter valued at about $32,000. KERR FINANCIAL PLANNING Corp bought a new stake in Bristol Myers Squibb in the 3rd quarter valued at about $35,000. Finally, Garner Asset Management Corp bought a new stake in Bristol Myers Squibb in the 4th quarter valued at about $35,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of Bristol Myers Squibb in a research note on Monday, March 23rd. UBS Group reissued a "buy" rating and issued a $70.00 price target on shares of Bristol Myers Squibb in a report on Friday, March 6th. Royal Bank Of Canada began coverage on shares of Bristol Myers Squibb in a report on Tuesday, February 24th. They issued a "sector perform" rating and a $60.00 price target on the stock. Guggenheim reissued a "buy" rating and issued a $72.00 price target on shares of Bristol Myers Squibb in a report on Wednesday, April 8th. Finally, Barclays began coverage on shares of Bristol Myers Squibb in a report on Thursday, February 19th. They issued an "overweight" rating and a $75.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $61.31.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 30,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $61.67, for a total transaction of $1,850,100.00. Following the completion of the sale, the executive vice president directly owned 159,248 shares in the company, valued at $9,820,824.16. This represents a 15.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.05% of the stock is owned by corporate insiders.

Bristol Myers Squibb Stock Down 2.1%

BMY stock opened at $58.19 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.28 and a debt-to-equity ratio of 2.10. The company's 50 day moving average is $58.46 and its 200 day moving average is $56.11. The stock has a market cap of $118.83 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 0.17 and a beta of 0.26. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $62.89.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.16. Bristol Myers Squibb had a net margin of 15.01% and a return on equity of 64.87%. The company had revenue of $11.49 billion for the quarter, compared to analysts' expectations of $10.93 billion. During the same period in the prior year, the business earned $1.80 earnings per share. Bristol Myers Squibb's revenue for the quarter was up 2.6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.31 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Thursday, April 2nd were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, April 2nd. This represents a $2.52 annualized dividend and a yield of 4.3%. Bristol Myers Squibb's dividend payout ratio is currently 70.79%.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company's core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS's marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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