Generali Asset Management SPA SGR Makes New $16.06 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Generali Asset Management SPA SGR purchased a new position in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, Holdings Channel reports. The firm purchased 283,961 shares of the biopharmaceutical company’s stock, valued at approximately $16,061,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its position in Bristol-Myers Squibb by 1.6% in the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after purchasing an additional 1,451,214 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after acquiring an additional 1,968,729 shares during the period. FMR LLC lifted its holdings in shares of Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after acquiring an additional 4,275,787 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after acquiring an additional 1,036,495 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Bristol-Myers Squibb by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock worth $1,398,948,000 after acquiring an additional 1,482,410 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $60.07 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock’s fifty day simple moving average is $57.87 and its two-hundred day simple moving average is $55.69. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The stock has a market cap of $121.89 billion, a PE ratio of -13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.13%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Truist Financial lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Company 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.