Palisade Capital Management LLC NJ Has $11.30 Million Stake in Philip Morris International Inc. (PM)

Palisade Capital Management LLC NJ lifted its position in Philip Morris International Inc. (NYSE:PM) by 8.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,215 shares of the company’s stock after purchasing an additional 7,856 shares during the period. Palisade Capital Management LLC NJ’s holdings in Philip Morris International were worth $11,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PM. Welch Investments LLC purchased a new position in Philip Morris International during the first quarter valued at $113,000. American Beacon Advisors Inc. purchased a new position in Philip Morris International during the first quarter valued at $114,000. Acropolis Investment Management LLC grew its stake in Philip Morris International by 0.5% during the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after acquiring an additional 5 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its stake in Philip Morris International by 75.0% during the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,750 shares of the company’s stock valued at $198,000 after acquiring an additional 750 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. grew its stake in Philip Morris International by 23.2% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,765 shares of the company’s stock valued at $199,000 after acquiring an additional 332 shares in the last quarter. 72.00% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total transaction of $1,624,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Several research firms recently weighed in on PM. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and raised their target price for the company from $118.00 to $119.00 in a research note on Friday, August 11th. Jefferies Group LLC cut their target price on shares of Philip Morris International from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday. Berenberg Bank set a $96.00 target price on shares of Philip Morris International and gave the company a “hold” rating in a research note on Saturday, June 24th. BidaskClub cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Sunday, September 24th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and a consensus target price of $125.92.

Philip Morris International Inc. (PM) opened at 113.99 on Monday. Philip Morris International Inc. has a 52 week low of $86.78 and a 52 week high of $123.55. The firm has a 50 day moving average of $114.61 and a 200-day moving average of $115.81. The stock has a market capitalization of $177.05 billion, a PE ratio of 25.26 and a beta of 0.93.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.09). The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. During the same period last year, the firm earned $1.15 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts predict that Philip Morris International Inc. will post $4.84 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th were issued a dividend of $1.07 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date was Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.75%. Philip Morris International’s dividend payout ratio is presently 94.90%.

TRADEMARK VIOLATION NOTICE: “Palisade Capital Management LLC NJ Has $11.30 Million Stake in Philip Morris International Inc. (PM)” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://ledgergazette.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PM. Welch Investments LLC purchased a new position in Philip Morris International during the first quarter valued at $113,000. American Beacon Advisors Inc. purchased a new position in Philip Morris International during the first quarter valued at $114,000. Acropolis Investment Management LLC grew its stake in Philip Morris International by 0.5% during the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after acquiring an additional 5 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its stake in Philip Morris International by 75.0% during the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,750 shares of the company’s stock valued at $198,000 after acquiring an additional 750 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. grew its stake in Philip Morris International by 23.2% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,765 shares of the company’s stock valued at $199,000 after acquiring an additional 332 shares in the last quarter. 72.00% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total transaction of $1,624,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Several research firms recently weighed in on PM. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and raised their target price for the company from $118.00 to $119.00 in a research note on Friday, August 11th. Jefferies Group LLC cut their target price on shares of Philip Morris International from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday. Berenberg Bank set a $96.00 target price on shares of Philip Morris International and gave the company a “hold” rating in a research note on Saturday, June 24th. BidaskClub cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Sunday, September 24th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and a consensus target price of $125.92.

Philip Morris International Inc. (PM) opened at 113.99 on Monday. Philip Morris International Inc. has a 52 week low of $86.78 and a 52 week high of $123.55. The firm has a 50 day moving average of $114.61 and a 200-day moving average of $115.81. The stock has a market capitalization of $177.05 billion, a PE ratio of 25.26 and a beta of 0.93.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.09). The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. During the same period last year, the firm earned $1.15 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts predict that Philip Morris International Inc. will post $4.84 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th were issued a dividend of $1.07 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date was Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.75%. Philip Morris International’s dividend payout ratio is presently 94.90%.

TRADEMARK VIOLATION NOTICE: “Palisade Capital Management LLC NJ Has $11.30 Million Stake in Philip Morris International Inc. (PM)” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/16/palisade-capital-management-llc-nj-has-11-30-million-stake-in-philip-morris-international-inc-pm.html.

Philip Morris International Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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