Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI raised its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 707.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 482,604 shares of the biopharmaceutical company's stock after acquiring an additional 422,804 shares during the period. Zurich Insurance Group Ltd FI's holdings in Bristol-Myers Squibb were worth $27,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BMY. Norges Bank bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $1,989,525,000. Ameriprise Financial Inc. increased its holdings in Bristol-Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Bristol-Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock valued at $705,309,000 after acquiring an additional 10,913,708 shares during the last quarter. Wellington Management Group LLP increased its holdings in Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after acquiring an additional 5,827,317 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $257,618,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Trading Down 0.3%

Bristol-Myers Squibb stock traded down $0.15 during trading hours on Friday, hitting $46.88. The company had a trading volume of 8,401,343 shares, compared to its average volume of 13,150,161. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a market cap of $95.40 billion, a P/E ratio of -10.61, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a 50-day moving average price of $51.79 and a two-hundred day moving average price of $55.71. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly 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. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter in the previous year, the firm posted ($4.40) earnings per share. The company's revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.29%. Bristol-Myers Squibb's dividend payout ratio is currently 92.88%.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 4,250 shares of Bristol-Myers Squibb 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 completion of the acquisition, the executive vice president now owns 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Argus raised shares of Bristol-Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Citigroup lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. UBS Group dropped their price objective 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. Finally, Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $58.00.

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.