TrimTabs Asset Management LLC Purchases Shares of 13,948 Philip Morris International Inc. (NYSE:PM)
TrimTabs Asset Management LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the 1st quarter, HoldingsChannel reports. The fund purchased 13,948 shares of the company’s stock, valued at approximately $1,263,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. First Financial Bank Trust Division lifted its position in shares of Philip Morris International by 34.3% during the first quarter. First Financial Bank Trust Division now owns 5,630 shares of the company’s stock valued at $500,000 after buying an additional 1,438 shares during the last quarter. Chickasaw Capital Management LLC increased its holdings in shares of Philip Morris International by 1.4% during the first quarter. Chickasaw Capital Management LLC now owns 24,686 shares of the company’s stock valued at $2,191,000 after acquiring an additional 350 shares in the last quarter. Pensionfund DSM Netherlands acquired a new position in shares of Philip Morris International during the first quarter valued at about $5,058,000. Pensionfund Sabic acquired a new position in shares of Philip Morris International during the first quarter valued at about $3,372,000. Finally, Bard Financial Services Inc. acquired a new position in shares of Philip Morris International during the fourth quarter valued at about $5,856,000. 74.18% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on PM shares. Sanford C. Bernstein started coverage on shares of Philip Morris International in a report on Tuesday, January 19th. They set a “market perform” rating and a $92.00 price objective on the stock. Smith Barney Citigroup reiterated a “” rating and set a $105.00 price target (up previously from $100.00) on shares of Philip Morris International in a report on Friday, January 8th. Stifel Nicolaus upped their price objective on Philip Morris International from $90.00 to $100.00 in a research report on Friday, February 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on Philip Morris International from $100.00 to $105.00 in a research report on Friday, January 8th. Finally, Edward Jones lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 15th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Philip Morris International has a consensus rating of “Buy” and an average price target of $97.64.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, February 4th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.21 by $0.05. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.41 billion. Philip Morris International had a negative return on equity of 78.02% and a net margin of 10.07%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. On average, analysts forecast that Philip Morris International Inc. will post 5.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 9th. Shareholders of record on Monday, March 22nd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, March 19th. Philip Morris International’s dividend payout ratio (DPR) is 92.49%.
In other news, VP Marian Salzman sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $84.39, for a total value of $168,780.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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 Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.
Further Reading: What are CEFs?
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