Bristol-Myers Squibb Company

New York Stock Exchange
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Slightly Bullish +15

44 Wealth Management LLC Sells 13,853 Shares of Bristol Myers Squibb ...

AI-generated analysis

📉 44 Wealth Management LLC reduced its Bristol Myers Squibb stake by 23.9%, holding 44,227 shares valued at $2.68 million as of the latest filing.

📈 Norges Bank established a new position in BMY worth approximately $1.95 billion during the fourth quarter.

📈 AQR Capital Management increased its holdings by 172.6%, now owning 25,796,905 shares valued at $1.39 billion.

📈 Bank of New York Mellon raised its stake by 47.0% to own 24,495,875 shares worth $1.32 billion.

📈 Geode Capital Management lifted its position by 13.1%, holding 52,638,346 shares valued at $2.84 billion.

📈 Man Group plc increased its stake by 280.4% in the second quarter, owning 7,465,845 shares worth $345 million.

💰 Bristol Myers Squibb has a market cap of $126.70 billion and trades with a P/E ratio of 17.43.

💸 The company announced a quarterly dividend of $0.63 per share, payable on August 3rd to shareholders of record on July 2nd.

📊 Institutional ownership stands at 76.41%, with the stock trading between a 52-day average of $57.49 and a 200-day average of $58.03.

👥 Analyst sentiment is mixed, with an average rating of 'Hold' and a consensus price target of $61.25.

Bullish Signals
  • Major institutional investors including Norges Bank, AQR Capital Management, and Bank of New York Mellon have significantly increased their stakes in the company.
  • The stock offers an attractive 4.1% dividend yield with a consistent payout history and a manageable 70.79% payout ratio.
  • Strong institutional ownership at 76.41% suggests confidence from large capital managers in the company's long-term prospects.
Risk Factors
  • Analyst consensus is currently 'Hold' with a price target of $61.25, which is below the recent opening price of $62.05.
  • Cantor Fitzgerald maintains a neutral rating with a lower price target of $54.00 compared to other analysts.
  • Weiss Ratings recently downgraded the stock from 'hold (c+)' to 'hold (c)', indicating some caution among rating agencies.
Full Analysis
Institutional investors have significantly adjusted their positions in Bristol Myers Squibb (NYSE:BMY) during the first quarter and fourth quarter of recent trading periods. While 44 Wealth Management LLC reduced its stake by 23.9%, trimming holdings to approximately $2.68 million, several major funds increased their exposure. Norges Bank initiated a new position valued at roughly $1.95 billion, while AQR Capital Management grew its stake by 172.6% to hold over $1.39 billion in shares. Other notable institutional activity includes Bank of New York Mellon raising its holdings by 47.0% and Geode Capital Management increasing its position by 13.1%. Man Group plc also lifted its stake by 280.4% during the second quarter. Collectively, hedge funds and other institutional investors now own approximately 76.41% of the company's outstanding stock, indicating strong continued interest from large-scale capital despite some individual reductions. The article provides detailed financial metrics for Bristol Myers Squibb, noting a market capitalization of $126.70 billion and a current share price opening at $62.05. The company maintains a dividend yield of 4.1% with an annualized payout of $2.52 per share, supported by a payout ratio of 70.79%. Analyst consensus remains mixed, with an average rating of 'Hold' and a consensus price target of $61.25, though individual targets vary from $54 to $67.