State of New Jersey Common Pension Fund D raised its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating ) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,258,038 shares of the biopharmaceutical company’s stock after purchasing an additional 12,839 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Bristol-Myers Squibb worth $90,516,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Bristol-Myers Squibb by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,068,993 shares of the biopharmaceutical company’s stock valued at $76,914,000 after buying an additional 17,557 shares in the last quarter. Allegiance Financial Group Advisory Services LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at $268,000. Cypress Capital LLC boosted its stake in Bristol-Myers Squibb by 0.9% during the fourth quarter. Cypress Capital LLC now owns 31,396 shares of the biopharmaceutical company’s stock valued at $2,259,000 after buying an additional 281 shares during the last quarter. NorthRock Partners LLC boosted its stake in Bristol-Myers Squibb by 42.6% in the fourth quarter. NorthRock Partners LLC now owns 11,578 shares of the biopharmaceutical company’s stock valued at $833,000 after purchasing an additional 3,459 shares during the last quarter. Finally, SP Asset Management LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $520,000. Institutional investors own 75.51 percent shares of the company.
Bristol-Myers Squibb Stock Performance
BMY traded down $0.24 during trading on Friday, hitting $70.45. The company traded 6,260,425 shares compared to its average volume of 7,215,963. The firm has a market cap of $148.18 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.54 and a beta of 0.45. The stock has a fifty day moving average of $69.55 and its 200 day moving average is $72.78. The company has a quick ratio of 1.14, a current ratio of 1.25 and a debt-to-equity ratio of 1.13. Bristol-Myers Squibb has a one year low of $65.28 and a one year high of $81.43.
Bristol-Myers Squibb (NYSE:BMY – Get Rating ) last posted its quarterly earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.11. The company had revenue of $11.41 billion during the quarter, compared to analyst estimates of $11.20 billion. Bristol-Myers Squibb had a net margin of 13.71% and a return on equity of 51.60%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted earnings of $1.83 per share. As a group, equities analysts forecast that Bristol-Myers Squibb will post 7.98 EPS for the current fiscal year.
Bristol-Myers Squibb Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, April 6th. This represents a $2.28 dividend on an annualized basis and a yield of 3.24%. Bristol-Myers Squibb’s dividend payout ratio is currently 77.29%.
Insiders place their bets
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 240,000 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the completion of the transaction, the chief executive officer now owns 236,104 shares in the company, valued at $17,625,163.60. The sale was disclosed in a document filed with the Securities and Exchange Commission, which is available through the SEC website. In other Bristol-Myers Squibb news, EVP Ann Powell sold 11,183 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.69, for a total transaction of $835,258.27. Following the completion of the transaction, the executive vice president now owns 23,043 shares in the company, valued at $1,721,081.67. The sale was disclosed in a document filed with the Securities and Exchange Commission, which is available through the SEC website. Also, CEO Giovanni Caforio sold 240,000 shares of the firm’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.65, for a total transaction worth $17,916,000.00. Following the completion of the transaction, the chief executive officer now owns 236,104 shares of the company’s stock, valued at $17,625,163.60. Disclosures for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Analysts set new price targets
BMY has been the subject of several recent research reports. Atlantic Securities boosted their price target on shares of Bristol-Myers Squibb from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Cantor Fitzgerald assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, January 17th. They set an “overweight” rating and a $95.00 price target for the company. StockNews.com began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, March 16th. They issued a “strong-buy” rating for the company. Morgan Stanley boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “underweight” rating in a report on Friday, February 3rd. Finally, Jefferies Financial Group initiated coverage on shares of Bristol-Myers Squibb in a report on Monday, March 6th. They issued a “hold” rating and a $62.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.69.
About Bristol-Myers Squibb
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Bristol Myers Squibb Co is engaged in the discovery, development, licensing, manufacturing, marketing, distribution, and sale of biopharmaceutical products. It offers chemically synthesized drugs or small molecules and products produced from biological processes known as biologics. The company was founded in August 1933 and is headquartered in New York, NY.
Special stories
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