Macguire Cheswick & Tuttle Investment Counsel LLC Lowers Position in Philip Morris International Inc. (PM)
Macguire Cheswick & Tuttle Investment Counsel LLC reduced its position in Philip Morris International Inc. (NYSE:PM) by 4.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,900 shares of the company’s stock after selling 200 shares during the period. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Philip Morris International were worth $260,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in PM. Essex Investment Management Co. LLC purchased a new position in Philip Morris International during the 4th quarter valued at about $27,000. Transamerica Financial Advisors Inc. grew its holdings in Philip Morris International by 552.8% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock valued at $32,000 after buying an additional 398 shares in the last quarter. Clean Yield Group purchased a new position in Philip Morris International during the 4th quarter valued at about $37,000. Litman Gregory Asset Management LLC purchased a new position in Philip Morris International during the 4th quarter valued at about $40,000. Finally, Vigilant Capital Management LLC grew its holdings in Philip Morris International by 195.6% during the 4th quarter. Vigilant Capital Management LLC now owns 665 shares of the company’s stock valued at $44,000 after buying an additional 440 shares in the last quarter. Institutional investors and hedge funds own 74.45% of the company’s stock.
PM has been the subject of a number of recent analyst reports. Credit Suisse Group lowered Philip Morris International from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $92.00 to $74.00 in a report on Tuesday, December 18th. Piper Jaffray Companies reissued an “overweight” rating and set a $110.00 price objective (down previously from $111.25) on shares of Philip Morris International in a report on Friday, December 28th. Jefferies Financial Group reissued a “hold” rating and set a $80.00 price objective on shares of Philip Morris International in a report on Sunday, February 10th. UBS Group raised Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $101.00 in a report on Wednesday, February 27th. Finally, Morgan Stanley cut their price objective on Philip Morris International from $102.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Philip Morris International currently has a consensus rating of “Hold” and an average price target of $91.86.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 7th. The company reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.09. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. The company had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.46 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. Philip Morris International’s revenue was down 9.6% on a year-over-year basis. As a group, research analysts forecast that Philip Morris International Inc. will post 5.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Tuesday, March 26th will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.02%. The ex-dividend date is Monday, March 25th. Philip Morris International’s dividend payout ratio is currently 89.41%.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $84.76, for a total value of $4,238,000.00. Following the completion of the sale, the chief executive officer now owns 844,901 shares of the company’s stock, valued at $71,613,808.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by corporate insiders.
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About Philip Morris International
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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