Texas Capital Bank Wealth Management Services Inc Has $1.31 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Texas Capital Bank Wealth Management Services Inc trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 31,628 shares of the biopharmaceutical company’s stock after selling 331 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Bristol-Myers Squibb were worth $1,314,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $27,000. LGT Financial Advisors LLC lifted its position in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the last quarter. Fairman Group LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $42,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $47,000. Finally, Accent Capital Management LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $46,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMY has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. TD Cowen raised their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Barclays raised their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $50.92 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $58.46. The firm has a fifty day moving average of $48.53 and a 200-day moving average of $46.38. The firm has a market capitalization of $103.22 billion, a price-to-earnings ratio of -16.43, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period in the previous year, the firm earned $1.75 EPS. Bristol-Myers Squibb’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.71%. Bristol-Myers Squibb’s payout ratio is presently -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.