Cullen Capital Management LLC Acquires 79,777 Shares of Bristol Myers Squibb Company $BMY

Cullen Capital Management LLC lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,340,847 shares of the biopharmaceutical company’s stock after acquiring an additional 79,777 shares during the period. Cullen Capital Management LLC owned approximately 0.07% of Bristol Myers Squibb worth $60,472,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Trifecta Capital Advisors LLC purchased a new stake in Bristol Myers Squibb in the 2nd quarter valued at $25,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth $25,000. Harbor Capital Advisors Inc. raised its holdings in shares of Bristol Myers Squibb by 107.2% in the third quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 313 shares during the last quarter. REAP Financial Group LLC lifted its position in shares of Bristol Myers Squibb by 202.8% during the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 428 shares in the last quarter. Finally, Total Investment Management Inc. purchased a new position in Bristol Myers Squibb during the second quarter worth about $38,000. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $57.70 on Thursday. The company has a market capitalization of $117.46 billion, a P/E ratio of 19.49, a P/E/G ratio of 0.17 and a beta of 0.29. The business has a fifty day simple moving average of $53.88 and a two-hundred day simple moving average of $48.85. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33.

Bristol Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Friday, January 2nd were paid a $0.63 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.4%. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 85.14%.

Analyst Upgrades and Downgrades

BMY has been the subject of several analyst reports. HSBC reiterated a “hold” rating and issued a $53.00 price objective on shares of Bristol Myers Squibb in a research note on Wednesday, December 10th. Bank of America raised Bristol Myers Squibb from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $61.00 in a research report on Monday, December 15th. Guggenheim reissued a “buy” rating on shares of Bristol Myers Squibb in a research report on Tuesday, December 23rd. BMO Capital Markets restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 17th. Finally, Piper Sandler reiterated an “overweight” rating and set a $66.00 target price (up from $62.00) on shares of Bristol Myers Squibb in a research note on Wednesday, January 28th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $57.43.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.