Cedar Capital LLC decreased its stake in Philip Morris International Inc. (NYSE:PM) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,610 shares of the company’s stock after selling 192 shares during the quarter. Cedar Capital LLC’s holdings in Philip Morris International were worth $761,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC acquired a new position in shares of Philip Morris International during the 4th quarter worth $27,000. CX Institutional increased its stake in shares of Philip Morris International by 432.1% during the 1st quarter. CX Institutional now owns 447 shares of the company’s stock worth $40,000 after purchasing an additional 363 shares during the last quarter. Transamerica Financial Advisors Inc. increased its stake in shares of Philip Morris International by 552.8% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock worth $32,000 after purchasing an additional 398 shares during the last quarter. Shamrock Asset Management LLC increased its stake in shares of Philip Morris International by 53.9% during the 1st quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock worth $50,000 after purchasing an additional 200 shares during the last quarter. Finally, Claybrook Capital LLC acquired a new position in shares of Philip Morris International during the 4th quarter worth $39,000. Institutional investors own 73.52% of the company’s stock.
In other news, VP Michael R. Kunst bought 2,500 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $84.67 per share, for a total transaction of $211,675.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Louis C. Camilleri sold 70,000 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $83.54, for a total transaction of $5,847,800.00. The disclosure for this sale can be found here. Insiders purchased a total of 4,000 shares of company stock worth $331,705 over the last quarter. 0.21% of the stock is currently owned by company insiders.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, April 18th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Philip Morris International had a net margin of 9.74% and a negative return on equity of 78.74%. The business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period last year, the business posted $1.00 EPS. Philip Morris International’s revenue was down 2.1% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International Inc. will post 5.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 21st will be paid a $1.14 dividend. The ex-dividend date is Thursday, June 20th. This represents a $4.56 dividend on an annualized basis and a yield of 5.91%. Philip Morris International’s payout ratio is presently 89.41%.
Several research analysts have recently commented on PM shares. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Thursday, February 14th. UBS Group upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and increased their price target for the stock from $86.00 to $101.00 in a research note on Wednesday, February 27th. ValuEngine upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Citigroup increased their price target on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, Bank of America restated a “sell” rating and set a $74.00 price target on shares of Philip Morris International in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $92.57.
TRADEMARK VIOLATION WARNING: “Philip Morris International Inc. (NYSE:PM) Shares Sold by Cedar Capital LLC” was first posted by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://dakotafinancialnews.com/2019/06/13/philip-morris-international-inc-nysepm-shares-sold-by-cedar-capital-llc.html.
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.
Read More: NASDAQ
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 MarketBeat.com's FREE daily email newsletter.