Bristol-Myers Squibb Company

New York Stock Exchange
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Somewhat Bullish +45

Bristol Myers Squibb Company $BMY Shares Bought by Fjarde AP Fonden ...

AI-generated analysis

📈 Fjarde AP Fonden increased its BMY stake by 21.5% in Q1, adding 105,200 shares to a total holding of 595,006 shares.

🏦 Vanguard Group lifted its position by 1.4% in Q4, now owning 198.7 million shares worth over $10.7 billion.

📊 State Street Corp grew its BMY holdings by 1.4% in the fourth quarter to a total value of $5.28 billion.

🚀 Geode Capital Management LLC increased its stake by 13.1% in Q4, acquiring an additional 6 million shares.

💰 Norges Bank initiated a new position in BMY valued at approximately $1.95 billion during the fourth quarter.

📈 AQR Capital Management significantly boosted its exposure, lifting its position by 172.6% to own 25.8 million shares.

📉 Institutional investors collectively hold 76.41% of Bristol Myers Squibb's outstanding stock.

💵 The company declared a quarterly dividend of $0.63 per share with an ex-dividend date of July 2nd.

🎯 HSBC raised its price target for BMY from $53.00 to $60.00 while maintaining a hold rating.

⭐ Wall Street Zen upgraded Bristol Myers Squibb from a buy to a strong-buy rating in late June.

📊 Guggenheim reiterated a buy rating and set a price target of $72.00 for the biopharmaceutical stock.

📉 The consensus analyst rating is hold with a mean price target of $61.31 according to MarketBeat.

Bullish Signals
  • Major institutional investors including Fjarde AP Fonden, Vanguard, State Street, Geode Capital, Norges Bank, and AQR Capital Management all increased their stakes in the company during recent quarters.
  • The stock offers a dividend yield of 4.3% with a payout ratio of 70.79%, providing income to shareholders.
  • HSBC raised its price objective from $53.00 to $60.00, indicating improved valuation expectations.
  • Wall Street Zen upgraded the stock to a strong-buy rating, signaling confidence in future performance.
  • Guggenheim maintains a buy rating with a specific price target of $72.00.
Risk Factors
  • The consensus analyst rating is hold, suggesting that while the company is stable, there may be limited immediate upside potential according to Wall Street analysts.
  • Only one sell rating exists among eleven total ratings, indicating some analysts remain cautious about the stock's near-term prospects.
Full Analysis
Fjarde AP Fonden increased its stake in Bristol Myers Squibb (NYSE:BMY) by 21.5% during the first quarter, purchasing an additional 105,200 shares to hold a total of 595,006 shares valued at approximately $36 million. This move aligns with other major institutional investors who also expanded their positions in the biopharmaceutical giant during the fourth quarter, including Vanguard Group, State Street Corp, Geode Capital Management, Norges Bank, and AQR Capital Management. Institutional ownership of Bristol Myers Squibb stands at 76.41%, reflecting continued confidence from large asset managers. The company currently trades with a market capitalization of $118.54 billion and a price-to-earnings ratio of 16.31. Analyst consensus ratings remain mixed, with eight buy ratings, ten hold ratings, and one sell rating, resulting in a consensus target price of $61.31. Bristol Myers Squibb recently announced a quarterly dividend of $0.63 per share, payable on August 3rd to shareholders of record as of July 2nd. This dividend represents an annualized yield of 4.3% with a payout ratio of 70.79%. The stock has seen recent analyst attention, including a price target increase from HSBC and a strong-buy upgrade from Wall Street Zen.