Wealthsource Partners LLC Sells 63 Shares of Philip Morris International Inc. (PM)
Wealthsource Partners LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,816 shares of the company’s stock after selling 63 shares during the quarter. Wealthsource Partners LLC’s holdings in Philip Morris International were worth $213,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Guidant Wealth Advisors raised its position in Philip Morris International by 25.5% in the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after acquiring an additional 191 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in Philip Morris International in the first quarter worth $114,000. Vantage Investment Advisors LLC raised its position in Philip Morris International by 1.0% in the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after acquiring an additional 10 shares in the last quarter. Acropolis Investment Management LLC raised its position in Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Philip Morris International by 13.9% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,230 shares of the company’s stock worth $144,000 after acquiring an additional 150 shares in the last quarter. 72.63% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on PM. Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, October 20th. Goldman Sachs Group upgraded Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target for the company in a research report on Thursday, September 28th. Zacks Investment Research cut Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday. Cowen restated a “buy” rating on shares of Philip Morris International in a research report on Sunday, September 24th. Finally, Jefferies Group restated a “hold” rating and issued a $120.00 price target (down previously from $121.00) on shares of Philip Morris International in a research report on Thursday, August 24th. One analyst has 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 has a consensus rating of “Hold” and an average price target of $124.23.
In related news, Chairman Louis C. Camilleri sold 108,979 shares of Philip Morris International stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.23% of the company’s stock.
Shares of Philip Morris International Inc. (NYSE PM) traded up $1.26 during mid-day trading on Wednesday, hitting $107.30. The stock had a trading volume of 4,428,300 shares, compared to its average volume of 4,127,201. Philip Morris International Inc. has a twelve month low of $88.90 and a twelve month high of $123.55. The stock has a market capitalization of $164,701.64, a PE ratio of 23.62, a P/E/G ratio of 2.14 and a beta of 0.90. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). The company had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. analysts forecast that Philip Morris International Inc. will post 4.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 21st will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Wednesday, December 20th. Philip Morris International’s dividend payout ratio is presently 94.48%.
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 Analyst Ratings Network's FREE daily email newsletter.