Avestar Capital LLC acquired a new position in Philip Morris International Inc. (NYSE:PM) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,884 shares of the company’s stock, valued at approximately $508,000.
Several other institutional investors have also bought and sold shares of PM. NewSquare Capital LLC lifted its position in Philip Morris International by 6,572.3% during the 3rd quarter. NewSquare Capital LLC now owns 101,753 shares of the company’s stock worth $116,000 after acquiring an additional 100,228 shares during the period. Front Row Advisors LLC acquired a new stake in Philip Morris International during the 4th quarter worth about $118,000. Wolverine Asset Management LLC acquired a new stake in Philip Morris International during the 4th quarter worth about $126,000. Cerebellum GP LLC acquired a new stake in Philip Morris International during the 4th quarter worth about $128,000. Finally, Independence Bank of Kentucky acquired a new stake in Philip Morris International during the 4th quarter worth about $129,000. 72.22% of the stock is owned by hedge funds and other institutional investors.
NYSE PM opened at $101.02 on Friday. The stock has a market cap of $157,963.48, a price-to-earnings ratio of 20.49, a P/E/G ratio of 1.91 and a beta of 0.86. Philip Morris International Inc. has a fifty-two week low of $95.51 and a fifty-two week high of $123.55. The company has a quick ratio of 0.80, a current ratio of 1.35 and a debt-to-equity ratio of -3.06.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.04). The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.17 billion. Philip Morris International had a net margin of 7.73% and a negative return on equity of 71.99%. The business’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.10 EPS. analysts forecast that Philip Morris International Inc. will post 5.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 22nd will be paid a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $4.28 annualized dividend and a dividend yield of 4.24%. Philip Morris International’s dividend payout ratio is presently 86.82%.
In related news, CEO Andre Calantzopoulos sold 49,000 shares of Philip Morris International 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 transaction, the chief executive officer now owns 792,765 shares in the company, valued at approximately $82,178,019.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marc S. Firestone sold 13,650 shares of Philip Morris International 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 transaction, 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. 0.23% of the stock is owned by insiders.
A number of analysts have commented on PM shares. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Jefferies Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Friday, January 19th. Citigroup upgraded Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, February 28th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on Philip Morris International from $120.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Finally, Piper Jaffray reiterated an “overweight” rating and set 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 ten have issued a buy rating to the stock. Philip Morris International currently has an average rating of “Buy” and an average target price of $123.77.
ILLEGAL ACTIVITY WARNING: This report was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another domain, it was copied illegally and reposted in violation of U.S. & international copyright law. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2018/04/08/4884-shares-in-philip-morris-international-inc-pm-purchased-by-avestar-capital-llc.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.
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.