Cullen Frost Bankers Inc. Sells 40,307 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cullen Frost Bankers Inc. trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Bristol-Myers Squibb by 3.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 463,064 shares of the biopharmaceutical company’s stock worth $26,876,000 after buying an additional 13,562 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Bristol-Myers Squibb by 2.1% during the third quarter. Park Avenue Securities LLC now owns 50,800 shares of the biopharmaceutical company’s stock valued at $2,948,000 after acquiring an additional 1,063 shares during the last quarter. Graypoint LLC lifted its holdings in shares of Bristol-Myers Squibb by 30.2% during the third quarter. Graypoint LLC now owns 11,927 shares of the biopharmaceutical company’s stock worth $692,000 after purchasing an additional 2,767 shares during the period. Punch & Associates Investment Management Inc. grew its stake in shares of Bristol-Myers Squibb by 32.7% in the third quarter. Punch & Associates Investment Management Inc. now owns 4,247 shares of the biopharmaceutical company’s stock worth $246,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Gratus Capital LLC raised its position in Bristol-Myers Squibb by 7.2% during the 3rd quarter. Gratus Capital LLC now owns 7,284 shares of the biopharmaceutical company’s stock worth $423,000 after purchasing an additional 491 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Barclays dropped their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Down 0.8 %

Shares of BMY traded down $0.37 during trading hours on Wednesday, reaching $43.67. 11,895,172 shares of the stock traded hands, compared to its average volume of 15,741,268. 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 stock has a fifty day simple moving average of $50.11 and a 200 day simple moving average of $50.48. Bristol-Myers Squibb has a 52 week low of $43.33 and a 52 week high of $69.10. The company has a market cap of $88.52 billion, a price-to-earnings ratio of -14.09, a PEG ratio of 14.82 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

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

About Bristol-Myers Squibb

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.