Cullen Frost Bankers Inc. Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Cullen Frost Bankers Inc. cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 12.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 280,687 shares of the biopharmaceutical company’s stock after selling 40,307 shares during the period. Cullen Frost Bankers Inc.’s holdings in Bristol-Myers Squibb were worth $14,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. McClarren Financial Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 532.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 1,582 shares during the period. Institute for Wealth Management LLC. raised its position in shares of Bristol-Myers Squibb by 1.0% during the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after buying an additional 296 shares during the period. Herold Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 3.2% during the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after buying an additional 1,051 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Bristol-Myers Squibb by 9.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock valued at $8,115,000 after buying an additional 12,121 shares during the period. Finally, Metis Global Partners LLC raised its position in shares of Bristol-Myers Squibb by 14.8% during the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock valued at $5,907,000 after buying an additional 13,122 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.8 %

Shares of BMY stock traded down $0.37 on Wednesday, reaching $43.67. 11,895,172 shares of the stock were exchanged, compared to its average volume of 15,741,268. Bristol-Myers Squibb has a twelve month low of $43.33 and a twelve month high of $69.10. The company has a market capitalization of $88.52 billion, a price-to-earnings ratio of -14.09, a PEG ratio of 14.82 and a beta of 0.45. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The business’s 50 day moving average price is $50.11 and its 200 day moving average price is $50.48.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the previous year, the company earned $2.05 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.50%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BMY. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, BMO Capital Markets dropped their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.