Cullen Frost Bankers Inc. Has $1.67 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Cullen Frost Bankers Inc. decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,468 shares of the biopharmaceutical company’s stock after selling 954 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Bristol-Myers Squibb were worth $1,667,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System boosted its holdings in shares of Bristol-Myers Squibb by 0.8% in the fourth quarter. Arizona State Retirement System now owns 586,005 shares of the biopharmaceutical company’s stock valued at $33,144,000 after buying an additional 4,786 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $240,000. SPC Financial Inc. boosted its holdings in shares of Bristol-Myers Squibb by 9.4% in the fourth quarter. SPC Financial Inc. now owns 5,612 shares of the biopharmaceutical company’s stock valued at $317,000 after buying an additional 484 shares during the period. Atria Investments Inc boosted its holdings in shares of Bristol-Myers Squibb by 43.2% in the fourth quarter. Atria Investments Inc now owns 183,154 shares of the biopharmaceutical company’s stock valued at $10,359,000 after buying an additional 55,296 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Bristol-Myers Squibb by 30.7% in the fourth quarter. Assetmark Inc. now owns 259,621 shares of the biopharmaceutical company’s stock valued at $14,684,000 after buying an additional 60,954 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BMY. Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Morgan Stanley boosted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, Truist Financial boosted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $61.16 on Friday. The firm has a market capitalization of $124.11 billion, a PE ratio of -13.84, a PEG ratio of 2.07 and a beta of 0.43. The company’s 50-day moving average is $57.39 and its 200-day moving average is $55.08. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.11. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Equities analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.05%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

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.