Palisade Capital Management LLC NJ lessened its stake in Philip Morris International (NYSE:PM) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,957 shares of the company’s stock after selling 4,594 shares during the period. Palisade Capital Management LLC NJ’s holdings in Philip Morris International were worth $9,240,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. Front Row Advisors LLC acquired a new position in Philip Morris International in the fourth quarter worth about $118,000. Wolverine Asset Management LLC acquired a new position in Philip Morris International in the fourth quarter worth about $126,000. Cerebellum GP LLC acquired a new position in Philip Morris International in the fourth quarter worth about $128,000. Independence Bank of Kentucky acquired a new position in Philip Morris International in the fourth quarter worth about $129,000. Finally, Certified Advisory Corp acquired a new stake in shares of Philip Morris International during the fourth quarter worth approximately $130,000. Institutional investors and hedge funds own 72.34% of the company’s stock.
In related news, insider Miroslaw Zielinski purchased 6,000 shares of the firm’s stock in a transaction dated Friday, April 27th. The shares were acquired at an average cost of $81.56 per share, with a total value of $489,360.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jerry Whitson purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 25th. The shares were bought at an average cost of $82.76 per share, for a total transaction of $248,280.00. The disclosure for this purchase can be found here. Insiders have bought 49,000 shares of company stock worth $3,989,640 over the last three months. 0.22% of the stock is owned by insiders.
Several analysts have recently weighed in on PM shares. Goldman Sachs Group lowered shares of Philip Morris International from a “conviction-buy” rating to a “buy” rating in a report on Friday, April 20th. Stifel Nicolaus dropped their price objective on shares of Philip Morris International from $125.00 to $100.00 and set a “buy” rating for the company in a report on Friday, April 20th. Cowen reaffirmed a “buy” rating and set a $105.00 price objective on shares of Philip Morris International in a report on Friday, April 20th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $126.00 price objective on shares of Philip Morris International in a report on Thursday, February 8th. Finally, Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Wednesday, February 28th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $116.86.
PM opened at $80.34 on Friday. Philip Morris International has a one year low of $79.40 and a one year high of $123.55. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of -2.82. The company has a market cap of $126.86 billion, a PE ratio of 17.29, a P/E/G ratio of 1.61 and a beta of 0.88.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, April 19th. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.12. Philip Morris International had a net margin of 7.50% and a negative return on equity of 72.40%. The business had revenue of $6.90 billion for the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. Philip Morris International’s revenue was up 13.7% compared to the same quarter last year. equities analysts anticipate that Philip Morris International will post 5.23 EPS for the current fiscal year.
Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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