Fred Alger Management LLC Raises Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Fred Alger Management LLC increased its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,764 shares of the biopharmaceutical company's stock after purchasing an additional 27,471 shares during the quarter. Fred Alger Management LLC's holdings in Bristol-Myers Squibb were worth $7,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $28,000. Transce3nd LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $34,000. Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter worth $38,000. Finally, Tacita Capital Inc purchased a new position in Bristol-Myers Squibb in the 4th quarter worth $39,000. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded up $1.67 during trading on Monday, reaching $48.12. The company had a trading volume of 25,595,049 shares, compared to its average volume of 13,155,351. The firm has a market capitalization of $97.92 billion, a price-to-earnings ratio of -10.89, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The stock's fifty day moving average price is $54.54 and its 200 day moving average price is $56.23. Bristol-Myers Squibb 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 released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the previous year, the company posted ($4.40) earnings per share. The company's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.15%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BMY. Jefferies Financial Group reduced their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Argus upgraded Bristol-Myers Squibb to a "hold" rating in a research report on Friday, April 25th. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. UBS Group dropped their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. 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 target for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $58.00.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the firm's stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president now owns 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.09% of the company's stock.

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.