AIA Group Ltd Grows Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• AIA Group Ltd increased its holdings in Bristol Myers Squibb by 298.4% in Q1, acquiring additional shares worth approximately $5.77 million.
• Several institutional investors have also raised their stakes, leading to a total of 76.41% of the company's stock being owned by institutional investors and hedge funds.
• Bristol Myers Squibb announced a quarterly dividend of $0.62, indicating a yield of 5.4%, with a payout ratio currently at 100%.

AIA Group Ltd boosted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 298.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,602 shares of the biopharmaceutical company's stock after buying an additional 70,858 shares during the quarter. AIA Group Ltd's holdings in Bristol Myers Squibb were worth $5,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cypress Capital Group lifted its holdings in Bristol Myers Squibb by 3.9% during the 1st quarter. Cypress Capital Group now owns 72,269 shares of the biopharmaceutical company's stock valued at $4,408,000 after buying an additional 2,743 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at about $406,000. Motley Fool Asset Management LLC raised its holdings in shares of Bristol Myers Squibb by 2.2% in the 1st quarter. Motley Fool Asset Management LLC now owns 94,397 shares of the biopharmaceutical company's stock valued at $5,757,000 after purchasing an additional 2,046 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of Bristol Myers Squibb by 7.1% in the 1st quarter. Independent Advisor Alliance now owns 76,073 shares of the biopharmaceutical company's stock valued at $4,640,000 after purchasing an additional 5,024 shares in the last quarter. Finally, Cove Private Wealth LLC raised its holdings in shares of Bristol Myers Squibb by 26.1% in the 1st quarter. Cove Private Wealth LLC now owns 11,345 shares of the biopharmaceutical company's stock valued at $692,000 after purchasing an additional 2,350 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research note on Tuesday, August 5th. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective for the company. Finally, Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Stock Performance

NYSE:BMY traded up $1.27 during trading hours on Wednesday, hitting $47.82. 10,107,934 shares of the company were exchanged, compared to its average volume of 13,227,537. The company's 50 day moving average price is $47.23 and its 200-day moving average price is $51.66. The stock has a market capitalization of $97.33 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 2.38 and a beta of 0.36. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.07 EPS. As a group, research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

About Bristol Myers Squibb

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.