Cullen Frost Bankers Inc. Lowers Position in Bristol-Myers Squibb Co (BMY)
Cullen Frost Bankers Inc. lowered its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 208,151 shares of the biopharmaceutical company’s stock after selling 8,413 shares during the period. Cullen Frost Bankers Inc.’s holdings in Bristol-Myers Squibb were worth $12,756,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of BMY. Vanguard Group Inc. increased its position in shares of Bristol-Myers Squibb by 0.3% during the second quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after purchasing an additional 333,685 shares in the last quarter. BlackRock Inc. increased its position in shares of Bristol-Myers Squibb by 2.4% during the second quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after purchasing an additional 2,367,864 shares in the last quarter. Dodge & Cox increased its position in shares of Bristol-Myers Squibb by 1.6% during the second quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after purchasing an additional 459,271 shares in the last quarter. Jennison Associates LLC increased its position in shares of Bristol-Myers Squibb by 16.2% during the third quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after purchasing an additional 3,735,453 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Bristol-Myers Squibb by 3.9% during the second quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock worth $1,339,612,000 after purchasing an additional 910,496 shares in the last quarter. Institutional investors own 69.82% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Vetr downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $59.70 price target on the stock. in a research report on Friday, December 22nd. BMO Capital Markets set a $51.00 price target on Bristol-Myers Squibb and gave the stock a “sell” rating in a research report on Wednesday, February 14th. Zacks Investment Research downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. Credit Suisse Group set a $62.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, January 22nd. Finally, Citigroup set a $78.00 price target on Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $66.18.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. Bristol-Myers Squibb had a return on equity of 35.43% and a net margin of 4.85%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. research analysts predict that Bristol-Myers Squibb Co will post 3.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Friday, April 6th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, April 5th. Bristol-Myers Squibb’s payout ratio is 271.19%.
In other Bristol-Myers Squibb news, EVP Sandra Leung sold 156,582 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the sale, the executive vice president now directly owns 584,373 shares of the company’s stock, valued at approximately $37,031,717.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodore R. Samuels II purchased 4,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were bought at an average cost of $62.30 per share, for a total transaction of $249,200.00. Following the completion of the transaction, the director now directly owns 22,000 shares in the company, valued at approximately $1,370,600. The disclosure for this purchase can be found here. 0.23% of the stock is owned by corporate insiders.
Bristol-Myers Squibb Company Profile
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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