Bristol Myers Squibb Company $BMY Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring increased its Bristol Myers Squibb position by 29.3% in the third quarter, adding 413,152 shares to hold 1,823,632 shares worth about $112.1 million.
• Bristol Myers Squibb reported quarterly EPS of $1.35, beating the $1.10 consensus estimate, and revenue of $13.07 billion, up 6.9% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $65.46; the company’s quarterly dividend equates to an annualized yield of about 4.1%.

Allspring Global Investments Holdings LLC grew its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 29.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,823,632 shares of the biopharmaceutical company's stock after buying an additional 413,152 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.09% of Bristol Myers Squibb worth $112,080,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Davis Asset Management L.P. acquired a new stake in shares of Bristol Myers Squibb in the second quarter valued at approximately $27,000. Addison Advisors LLC acquired a new position in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $32,000. William Mack & Associates Inc. purchased a new stake in Bristol Myers Squibb in the 3rd quarter valued at approximately $35,000. Groupe la Francaise lifted its stake in Bristol Myers Squibb by 562.9% in the 2nd quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 501 shares in the last quarter. Finally, Kilter Group LLC acquired a new stake in Bristol Myers Squibb during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Trading Up 0.0%

Shares of Bristol Myers Squibb stock opened at $62.16 on Tuesday. Bristol Myers Squibb Company has a fifty-two week low of $45.26 and a fifty-two week high of $68.64. The firm has a market cap of $127.06 billion, a PE ratio of 10.30, a P/E/G ratio of 0.33 and a beta of 0.20. The business's fifty day moving average is $62.25 and its two-hundred day moving average is $60.15. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.79.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.25. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.72 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The business's revenue for the quarter was up 6.9% on a year-over-year basis. Analysts anticipate that Bristol Myers Squibb Company will post 6.45 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.1%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 55.88%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BMY shares. Rothschild & Co Redburn raised their price target on Bristol Myers Squibb from $51.00 to $53.00 and gave the stock a "neutral" rating in a research report on Thursday, October 8th. BMO Capital Markets restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Monday, July 27th. Argus raised Bristol Myers Squibb from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research note on Wednesday, August 5th. Weiss Ratings raised Bristol Myers Squibb from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. Finally, Raymond James Financial started coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They set a "strong-buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $65.46.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, Director Julia A. Haller sold 3,800 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $63.31, for a total transaction of $240,578.00. Following the transaction, the director owned 30,279 shares of the company's stock, valued at $1,916,963.49. This trade represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 500 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the transaction, the senior vice president directly owned 16,862 shares in the company, valued at approximately $1,138,185. This represents a 2.88% decrease in their position. The SEC filing for this sale provides additional information. 0.05% of the stock is currently owned by company insiders.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease.

The company's medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.

Bristol Myers Squibb was formed in 1989 through the merger of Bristol-Myers, founded in 1887, and the E.

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