Pin Oak Investment Advisors Inc. Takes Position in Philip Morris International Inc. (PM)
Pin Oak Investment Advisors Inc. purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,787 shares of the company’s stock, valued at approximately $294,000.
A number of other hedge funds have also recently bought and sold shares of PM. NewSquare Capital LLC raised its stake 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 buying an additional 100,228 shares during the period. Front Row Advisors LLC acquired a new position in Philip Morris International during the 4th quarter worth approximately $118,000. Wolverine Asset Management LLC acquired a new position in Philip Morris International during the 4th quarter worth approximately $126,000. Cerebellum GP LLC acquired a new position in Philip Morris International during the 4th quarter worth approximately $128,000. Finally, Independence Bank of Kentucky acquired a new position in Philip Morris International during the 4th quarter worth approximately $129,000. 72.18% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on PM. Piper Jaffray reaffirmed an “overweight” rating and set a $137.00 price target (up from $130.00) on shares of Philip Morris International in a research note on Thursday, January 11th. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. TheStreet downgraded Philip Morris International from a “b-” rating to a “c+” rating in a research note on Tuesday, March 20th. Citigroup dropped their price target on Philip Morris International from $117.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Finally, Jefferies Group raised 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $123.50.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.17 billion. Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. equities research analysts predict that Philip Morris International Inc. will post 5.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 11th. Stockholders of record on Thursday, March 22nd were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Wednesday, March 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 86.82%.
In other news, CEO Andre Calantzopoulos sold 49,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 792,765 shares of the company’s stock, valued at $82,178,019.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Marc S. Firestone sold 13,650 shares of the company’s stock in a transaction that occurred on 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 directly owns 189,199 shares of the company’s stock, valued at $19,795,891.37. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
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Philip Morris International Company 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.
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