Cullen Frost Bankers Inc. Has $27,137,000 Stake in Bristol-Myers Squibb Co. (BMY)
Cullen Frost Bankers Inc. raised its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 368,960 shares of the biopharmaceutical company’s stock after buying an additional 368 shares during the period. Bristol-Myers Squibb makes up about 1.0% of Cullen Frost Bankers Inc.’s portfolio, making the stock its 19th largest position. Cullen Frost Bankers Inc.’s holdings in Bristol-Myers Squibb were worth $27,137,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can bought a new position in Bristol-Myers Squibb during the second quarter worth approximately $154,732,000. Canada Pension Plan Investment Board boosted its position in Bristol-Myers Squibb by 628.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,323,821 shares of the biopharmaceutical company’s stock worth $84,566,000 after buying an additional 1,142,200 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in Bristol-Myers Squibb during the first quarter worth approximately $69,778,000. TIAA CREF Investment Management LLC boosted its position in Bristol-Myers Squibb by 9.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,372,071 shares of the biopharmaceutical company’s stock worth $662,568,000 after buying an additional 921,866 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Bristol-Myers Squibb by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 44,742,184 shares of the biopharmaceutical company’s stock worth $2,858,131,000 after buying an additional 844,233 shares during the last quarter. 72.88% of the stock is owned by hedge funds and other institutional investors.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.94% during midday trading on Friday, hitting $49.77. The company had a trading volume of 13,848,384 shares. The stock’s 50-day moving average price is $55.09 and its 200-day moving average price is $66.31. Bristol-Myers Squibb Co. has a 12 month low of $49.12 and a 12 month high of $77.12. The company has a market cap of $83.16 billion, a price-to-earnings ratio of 29.11 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period in the prior year, the company posted $0.53 EPS. Bristol-Myers Squibb’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
BMY has been the topic of a number of recent analyst reports. Credit Suisse Group AG cut shares of Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $86.00 to $63.00 in a research report on Sunday, August 7th. Leerink Swann reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Bristol-Myers Squibb in a research report on Sunday, October 9th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol-Myers Squibb in a research report on Thursday, August 25th. Jefferies Group reaffirmed a “hold” rating and issued a $57.00 target price (down previously from $69.00) on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $75.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, September 27th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $69.31.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total value of $1,228,392.00. Following the transaction, the director now directly owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by company insiders.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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