Eqis Capital Management Inc. Raises Holdings in Philip Morris International Inc (PM)
Eqis Capital Management Inc. grew its stake in Philip Morris International Inc (NYSE:PM) by 17.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,318 shares of the company’s stock after purchasing an additional 2,417 shares during the quarter. Eqis Capital Management Inc.’s holdings in Philip Morris International were worth $1,917,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. increased its position in shares of Philip Morris International by 22.4% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 312,396 shares of the company’s stock valued at $35,270,000 after buying an additional 57,114 shares during the period. Van Cleef Asset Management Inc bought a new position in Philip Morris International in the first quarter worth about $228,000. Pinnacle Advisory Group Inc. raised its stake in Philip Morris International by 76.9% in the first quarter. Pinnacle Advisory Group Inc. now owns 45,076 shares of the company’s stock worth $5,089,000 after buying an additional 19,598 shares in the last quarter. Waldron LP raised its stake in Philip Morris International by 5.6% in the first quarter. Waldron LP now owns 29,179 shares of the company’s stock worth $3,292,000 after buying an additional 1,547 shares in the last quarter. Finally, Personal Capital Advisors Corp raised its stake in Philip Morris International by 8.1% in the first quarter. Personal Capital Advisors Corp now owns 2,948 shares of the company’s stock worth $334,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.
Philip Morris International Inc (PM) traded down 0.582% during trading on Tuesday, hitting $110.225. The stock had a trading volume of 1,256,882 shares. The stock has a market capitalization of $171.20 billion, a PE ratio of 24.424 and a beta of 0.93. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55. The stock’s 50-day moving average is $115.39 and its 200-day moving average is $115.82.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.09). Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The business had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. Philip Morris International’s revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 27th will be given a $1.07 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Tuesday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 94.90%.
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A number of research analysts have weighed in on the company. Berenberg Bank set a $96.00 target price on Philip Morris International and gave the stock a “hold” rating in a report on Saturday, June 24th. BidaskClub upgraded Philip Morris International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. SBG Securities upgraded 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 restated a “hold” rating and issued a $120.00 target price on shares of Philip Morris International in a research note on Thursday, September 28th. Finally, Vetr lowered Philip Morris International from a “hold” rating to a “sell” rating and set a $117.88 price target on the stock. in a research report on Monday, June 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and a consensus target price of $123.92.
In related news, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.
About Philip Morris International
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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