American International Group Inc. Has $34.89 Million Stake in Bristol-Myers Squibb Co (BMY)
American International Group Inc. grew its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 561,961 shares of the biopharmaceutical company’s stock after buying an additional 18,256 shares during the period. American International Group Inc.’s holdings in Bristol-Myers Squibb were worth $34,887,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of BMY. CSat Investment Advisory L.P. bought a new stake in Bristol-Myers Squibb during the 2nd quarter valued at approximately $113,000. Cypress Capital Management LLC WY raised its stake in Bristol-Myers Squibb by 154.7% during the 3rd quarter. Cypress Capital Management LLC WY now owns 1,910 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 1,160 shares during the period. Landaas & Co. WI ADV bought a new stake in Bristol-Myers Squibb during the 2nd quarter valued at approximately $131,000. Selective Wealth Management bought a new stake in Bristol-Myers Squibb during the 3rd quarter valued at approximately $184,000. Finally, LFA Lugano Financial Advisors SA raised its stake in Bristol-Myers Squibb by 85.8% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock valued at $199,000 after purchasing an additional 1,481 shares during the period. 72.90% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:BMY opened at $53.20 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.40 and a current ratio of 1.53. Bristol-Myers Squibb Co has a 1 year low of $46.94 and a 1 year high of $70.05. The company has a market capitalization of $87.29 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.49 and a beta of 1.08.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Friday, October 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, October 4th. Bristol-Myers Squibb’s payout ratio is 53.16%.
BMY has been the topic of several recent analyst reports. Morgan Stanley decreased their target price on Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating on the stock in a research note on Tuesday, November 6th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Friday, October 5th. Guggenheim initiated coverage on Bristol-Myers Squibb in a research note on Monday, October 8th. They set a “neutral” rating on the stock. BMO Capital Markets decreased their target price on Bristol-Myers Squibb from $57.00 to $54.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Bristol-Myers Squibb from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $61.84.
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Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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