Sumitomo Mitsui Trust Group Inc. Has $307.51 Million Position in Bristol Myers Squibb Company (NYSE:BMY)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,042,045 shares of the biopharmaceutical company's stock after acquiring an additional 361,007 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Bristol Myers Squibb worth $307,514,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. bought a new position in Bristol Myers Squibb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $28,000. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $28,000. Finally, Global Wealth Strategies & Associates raised its position in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 275 shares during the period. Institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BMY. Jefferies Financial Group dropped their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. UBS Group decreased their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Finally, Piper Sandler assumed coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $58.00.

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 dated Friday, April 25th. The shares were purchased at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares of the company's stock, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $46.34 on Friday. The stock's 50 day simple moving average is $47.90 and its two-hundred day simple moving average is $53.94. 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 $94.31 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.38 and a beta of 0.38. Bristol Myers Squibb Company 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 announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned ($4.40) EPS. As a group, analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.35%. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.