KLP Kapitalforvaltning AS Grows Stake in Bristol Myers Squibb Company (NYSE:BMY)

KLP Kapitalforvaltning AS raised its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,345,458 shares of the biopharmaceutical company's stock after purchasing an additional 59,700 shares during the period. KLP Kapitalforvaltning AS owned about 0.07% of Bristol Myers Squibb worth $82,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BMY. Brighton Jones LLC boosted its stake in Bristol Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after purchasing an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at $13,094,000. Proficio Capital Partners LLC acquired a new position in shares of Bristol Myers Squibb in the 4th quarter valued at $240,000. Hillsdale Investment Management Inc. boosted its holdings in shares of Bristol Myers Squibb by 3,400.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 14,000 shares of the biopharmaceutical company's stock worth $792,000 after buying an additional 13,600 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Bristol Myers Squibb during the 4th quarter worth approximately $817,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Up 0.0%

Shares of NYSE:BMY traded up $0.01 during trading on Thursday, reaching $48.99. The stock had a trading volume of 6,859,643 shares, compared to its average volume of 13,362,993. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The stock has a market cap of $99.69 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 2.51 and a beta of 0.36. The firm's fifty day moving average is $47.57 and its 200 day moving average is $52.76. Bristol Myers Squibb Company has a 52 week low of $44.00 and a 52 week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion for the quarter, compared to analysts' expectations of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. Bristol Myers Squibb's revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($4.40) EPS. As a group, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the firm's stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president owned 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Argus raised Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. UBS Group dropped their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $58.53.

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.