Twin Capital Management Inc. Grows Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Twin Capital Management Inc. boosted its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 17.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,531 shares of the biopharmaceutical company's stock after buying an additional 16,437 shares during the quarter. Bristol Myers Squibb accounts for approximately 0.8% of Twin Capital Management Inc.'s investment portfolio, making the stock its 22nd largest position. Twin Capital Management Inc.'s holdings in Bristol Myers Squibb were worth $6,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Bristol Myers Squibb during the 4th quarter valued at $1,989,525,000. Ameriprise Financial Inc. lifted its position in shares of Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Bristol Myers Squibb by 701.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after purchasing an additional 10,913,708 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Bristol Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after purchasing an additional 5,827,317 shares during the period. Finally, Schroder Investment Management Group grew its holdings in shares of Bristol Myers Squibb by 49.7% in the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company's stock worth $639,837,000 after purchasing an additional 3,787,075 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Samit Hirawat purchased 4,250 shares of the company's stock in a transaction on Friday, April 25th. The shares were acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company's stock.

Bristol Myers Squibb Price Performance

BMY opened at $47.40 on Friday. The firm has a market capitalization of $96.46 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.44 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The business's 50-day moving average is $47.47 and its two-hundred day moving average is $52.91. Bristol Myers Squibb Company has a 1 year low of $41.90 and a 1 year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned ($4.40) earnings per share. Research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently declared 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 of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.23%. Bristol Myers Squibb's payout ratio is 92.88%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a research report 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 for the company in a research note on Friday, April 11th. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Piper Sandler began coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. Finally, Argus upgraded Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and a consensus price target of $57.69.

Bristol Myers Squibb Profile

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.

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