Cedar Capital LLC Boosts Stake in Philip Morris International Inc (PM)
Cedar Capital LLC lifted its stake in shares of Philip Morris International Inc (NYSE:PM) by 3.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,586 shares of the company’s stock after buying an additional 382 shares during the quarter. Philip Morris International comprises about 0.5% of Cedar Capital LLC’s portfolio, making the stock its 28th largest holding. Cedar Capital LLC’s holdings in Philip Morris International were worth $1,243,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Guidant Wealth Advisors increased its position in Philip Morris International by 25.5% during the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after acquiring an additional 191 shares during the period. American Beacon Advisors Inc. bought a new position in Philip Morris International in the 1st quarter valued at about $114,000. Acropolis Investment Management LLC increased its holdings in Philip Morris International by 0.5% in the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after buying an additional 5 shares during the period. BDO Wealth Advisors LLC bought a new position in Philip Morris International in the 2nd quarter valued at about $178,000. Finally, Burt Wealth Advisors increased its holdings in Philip Morris International by 33.0% in the 2nd quarter. Burt Wealth Advisors now owns 1,613 shares of the company’s stock valued at $189,000 after buying an additional 400 shares during the period. Institutional investors own 72.90% of the company’s stock.
Shares of Philip Morris International Inc (NYSE:PM) opened at $103.54 on Friday. 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 Inc has a 1 year low of $86.78 and a 1 year high of $123.55. The company has a market cap of $160,818.63, a P/E ratio of 23.06, a P/E/G ratio of 2.09 and a beta of 0.91.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.11). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The business had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. analysts predict that Philip Morris International Inc will post 4.75 earnings per share for the current year.
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In other news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.
Several equities analysts have commented on the stock. Piper Jaffray Companies set a $130.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a report on Thursday, November 16th. Wells Fargo & Company reissued an “outperform” rating and issued a $135.00 target price (down from $140.00) on shares of Philip Morris International in a report on Wednesday, November 15th. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Jefferies Group LLC reissued a “hold” rating and issued a $114.00 target price on shares of Philip Morris International in a report on Friday, October 20th. Finally, Bank of America Corporation decreased their target price on shares of Philip Morris International from $124.00 to $121.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Philip Morris International presently has a consensus rating of “Buy” and an average price target of $124.23.
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.
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