Wellington Management Group LLP Boosts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Wellington Management Group LLP grew its position in Bristol-Myers Squibb (NYSE:BMY) by 3,880.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,977,505 shares of the biopharmaceutical company’s stock after buying an additional 5,827,317 shares during the period. Wellington Management Group LLP owned 0.29% of Bristol-Myers Squibb worth $338,088,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fairway Wealth LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $28,000. Dunhill Financial LLC increased its stake in Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $34,000. Westend Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $38,000. Finally, Tacita Capital Inc purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $39,000. 76.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $59.53 on Wednesday. The business’s 50 day moving average price is $58.69 and its 200-day moving average price is $56.52. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. 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 firm has a market capitalization of $121.13 billion, a PE ratio of -13.47, a P/E/G ratio of 2.07 and a beta of 0.43.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.17%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

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.