Wedbush Securities Inc. boosted its stake in Philip Morris International Inc. (NYSE:PM) by 40.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,616 shares of the company’s stock after buying an additional 5,338 shares during the quarter. Wedbush Securities Inc.’s holdings in Philip Morris International were worth $1,967,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. NewSquare Capital LLC boosted its stake in Philip Morris International by 6,572.3% in the third quarter. NewSquare Capital LLC now owns 101,753 shares of the company’s stock worth $116,000 after purchasing an additional 100,228 shares in the last quarter. Front Row Advisors LLC acquired a new position in Philip Morris International in the fourth quarter worth $118,000. Vantage Investment Advisors LLC boosted its stake in Philip Morris International by 1.0% in the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after purchasing an additional 10 shares in the last quarter. Cerebellum GP LLC acquired a new position in Philip Morris International in the fourth quarter worth $128,000. Finally, Independence Bank of Kentucky acquired a new position in Philip Morris International in the fourth quarter worth $129,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.
PM has been the topic of a number of recent analyst reports. Jefferies Group raised Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research note on Friday, January 19th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Morgan Stanley boosted their price objective on Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Citigroup reduced their price objective on Philip Morris International from $117.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $137.00 price objective (up previously from $130.00) on shares of Philip Morris International in a research note on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $124.57.
Shares of Philip Morris International Inc. (PM) opened at $97.67 on Friday. The firm has a market capitalization of $151,828.23, a price-to-earnings ratio of 20.80, a PEG ratio of 1.84 and a beta of 0.85. Philip Morris International Inc. has a 52-week low of $96.66 and a 52-week high of $123.55. The company has a debt-to-equity ratio of -3.06, a quick ratio of 0.80 and a current ratio of 1.35.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.17 billion. Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 EPS. research analysts forecast that Philip Morris International Inc. will post 5.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 22nd will be issued a $1.07 dividend. The ex-dividend date is Wednesday, March 21st. This represents a $4.28 dividend on an annualized basis and a yield of 4.38%. Philip Morris International’s dividend payout ratio is presently 110.59%.
In related news, CEO Andre Calantzopoulos sold 49,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total value of $5,079,340.00. Following the completion of the sale, the chief executive officer now owns 792,765 shares in the company, valued at $82,178,019.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc S. Firestone sold 13,650 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total value of $1,428,199.50. Following the completion of the sale, the insider now owns 189,199 shares of the company’s stock, valued at approximately $19,795,891.37. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
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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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