Cullen Frost Bankers Inc. Has $27,137,000 Stake in Bristol-Myers Squibb Co. (BMY)
Cullen Frost Bankers Inc. increased its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 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 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Jolley Asset Management LLC boosted its stake in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares in the last quarter. Univest Corp of Pennsylvania acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $202,000. Smith & Howard Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $204,000. Windsor Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $205,000. Finally, Oakwood Capital Management LLC CA acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth approximately $210,000. Institutional investors own 72.88% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.94% during midday trading on Friday, reaching $49.77. 13,848,384 shares of the company were exchanged. Bristol-Myers Squibb Co. has a 52 week low of $49.12 and a 52 week high of $77.12. The firm has a 50-day moving average of $55.09 and a 200 day moving average of $66.31. The firm has a market capitalization of $83.16 billion, a P/E ratio of 29.11 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The business earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, equities research analysts expect 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. Stockholders of record on Friday, October 7th will be issued a dividend of $0.38 per share. 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%.
A number of analysts have commented on the stock. Leerink Swann reaffirmed an “outperform” rating and set a $69.00 target price on shares of Bristol-Myers Squibb in a report on Sunday, October 9th. Morgan Stanley cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a report on Friday, August 5th. Jefferies Group reaffirmed a “hold” rating and set a $57.00 target price (down from $69.00) on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $69.31.
In other news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the sale, the director now owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.
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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