Aspire Private Capital LLC Increases Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Aspire Private Capital LLC increased its position in Bristol Myers Squibb Company (NYSE:BMY) by 14.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 8,771 shares of the biopharmaceutical company’s stock after buying an additional 1,129 shares during the quarter. Aspire Private Capital LLC’s holdings in Bristol Myers Squibb were worth $535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BMY. Norges Bank purchased a new position in shares of Bristol Myers Squibb in the fourth quarter valued at $1,989,525,000. Ameriprise Financial Inc. boosted its stake in shares of Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Bristol Myers Squibb by 701.2% in 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 valued at $705,309,000 after purchasing an additional 10,913,708 shares during the period. Wellington Management Group LLP boosted its stake in shares of Bristol Myers Squibb by 3,880.0% in 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, Raymond James Financial Inc. purchased a new position in shares of Bristol Myers Squibb in the fourth quarter valued at $257,618,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Samit Hirawat acquired 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $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 this link. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BMY has been the subject of several analyst reports. UBS Group decreased their target price 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. Piper Sandler began coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective on the stock. William Blair reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Argus upgraded shares of Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $58.00.

Bristol Myers Squibb Stock Up 0.1%

BMY stock opened at $46.87 on Friday. Bristol Myers Squibb Company has a 52-week low of $39.35 and a 52-week high of $63.33. The company’s 50 day simple moving average is $48.20 and its 200-day simple moving average is $54.35. 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 firm has a market capitalization of $95.38 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.39 and a beta of 0.38.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly 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 net margin of 11.38% and a return on equity of 87.62%. 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 business earned ($4.40) earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.29%. Bristol Myers Squibb’s dividend payout ratio is currently 92.88%.

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.