Center For Asset Management LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 124.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,102 shares of the biopharmaceutical company's stock after buying an additional 3,934 shares during the period. Center For Asset Management LLC's holdings in Bristol-Myers Squibb were worth $547,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Capital International Investors bought a new position in Bristol-Myers Squibb in the 1st quarter worth about $1,672,455,000. Norges Bank bought a new position in Bristol-Myers Squibb during the 4th quarter valued at about $1,413,962,000. Primecap Management Co. CA lifted its stake in Bristol-Myers Squibb by 1.2% during the 1st quarter. Primecap Management Co. CA now owns 22,370,375 shares of the biopharmaceutical company's stock valued at $1,633,708,000 after acquiring an additional 255,920 shares during the period. Deutsche Bank AG increased its position in shares of Bristol-Myers Squibb by 17.0% during the 4th quarter. Deutsche Bank AG now owns 15,372,985 shares of the biopharmaceutical company's stock valued at $958,504,000 after purchasing an additional 2,232,347 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Bristol-Myers Squibb by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,772,753 shares of the biopharmaceutical company's stock valued at $1,005,908,000 after purchasing an additional 963,894 shares during the last quarter. Institutional investors own 76.54% of the company's stock.

Bristol-Myers Squibb Trading Up 2.4 %

Shares of BMY stock opened at $72.06 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.44 and a quick ratio of 1.34. The firm has a market cap of $153.87 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.49 and a beta of 0.43. The company has a 50-day moving average of $71.89 and a two-hundred day moving average of $74.08. Bristol-Myers Squibb has a 1-year low of $53.22 and a 1-year high of $80.59.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, October 6th. Bristol-Myers Squibb's payout ratio is 71.76%.

Insider Activity

In other news, EVP Ann Powell sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $70.75, for a total value of $1,768,750.00. Following the completion of the transaction, the executive vice president now owns 50,476 shares of the company's stock, valued at $3,571,177. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Ann Powell sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $70.75, for a total value of $1,768,750.00. Following the sale, the executive vice president now owns 50,476 shares of the company's stock, valued at $3,571,177. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David V. Elkins sold 133,951 shares of the firm's stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $71.30, for a total transaction of $9,550,706.30. Following the completion of the sale, the chief financial officer now directly owns 100,460 shares in the company, valued at approximately $7,162,798. The disclosure for this sale can be found here. Over the last quarter, insiders sold 233,951 shares of company stock valued at $16,654,206. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of research reports. Raymond James downgraded Bristol-Myers Squibb from an "outperform" rating to a "market perform" rating in a research report on Friday, June 3rd. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their target price on Bristol-Myers Squibb from $80.00 to $85.00 in a research note on Thursday, July 28th. Bank of America raised their price target on Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 6th. Berenberg Bank downgraded Bristol-Myers Squibb from a "buy" rating to a "hold" rating and lowered their price target for the stock from $82.00 to $76.00 in a report on Wednesday, September 14th. Finally, UBS Group raised their price target on Bristol-Myers Squibb to $73.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.29.

Bristol-Myers Squibb Profile

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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