Weaver Consulting Group acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 715 shares of the company’s stock, valued at approximately $55,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC purchased a new stake in shares of Philip Morris International during the fourth quarter valued at $27,000. Transamerica Financial Advisors Inc. boosted its position in shares of Philip Morris International by 552.8% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock valued at $32,000 after buying an additional 398 shares during the last quarter. Claybrook Capital LLC purchased a new stake in shares of Philip Morris International during the fourth quarter valued at $39,000. Clarfeld Financial Advisors LLC purchased a new stake in shares of Philip Morris International during the fourth quarter valued at $40,000. Finally, CX Institutional boosted its position in shares of Philip Morris International by 432.1% during the first quarter. CX Institutional now owns 447 shares of the company’s stock valued at $40,000 after buying an additional 363 shares during the last quarter. 73.50% of the stock is currently owned by hedge funds and other institutional investors.
PM has been the topic of a number of recent research reports. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Bank of America set a $120.00 target price on Walmart and gave the company a “buy” rating in a report on Friday, May 17th. Zacks Investment Research raised Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Citigroup raised their price objective on Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, Barclays reaffirmed a “sell” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $92.00.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, April 18th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.76 billion. Philip Morris International had a negative return on equity of 78.74% and a net margin of 9.74%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. On average, research analysts anticipate that Philip Morris International Inc. will post 5.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st were issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.57%. The ex-dividend date was Thursday, June 20th. Philip Morris International’s dividend payout ratio is presently 89.41%.
In other news, Director Louis C. Camilleri sold 70,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $83.54, for a total value of $5,847,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael R. Kunst bought 1,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $79.66 per share, with a total value of $79,660.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,000 shares of company stock valued at $331,705 in the last 90 days. 0.21% of the stock is currently owned by company insiders.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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