Ffcm LLC Grows Holdings in Philip Morris International Inc. (PM)
Ffcm LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,286 shares of the company’s stock after purchasing an additional 8,148 shares during the period. Philip Morris International makes up about 1.1% of Ffcm LLC’s holdings, making the stock its 19th largest holding. Ffcm LLC’s holdings in Philip Morris International were worth $8,030,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC acquired a new position in Philip Morris International during the fourth quarter worth $27,000. Transamerica Financial Advisors Inc. raised its stake in shares of Philip Morris International by 552.8% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock valued at $32,000 after acquiring an additional 398 shares in the last quarter. Clean Yield Group acquired a new stake in shares of Philip Morris International in the fourth quarter valued at $37,000. Litman Gregory Asset Management LLC acquired a new stake in shares of Philip Morris International in the fourth quarter valued at $40,000. Finally, Vigilant Capital Management LLC raised its stake in shares of Philip Morris International by 195.6% in the fourth quarter. Vigilant Capital Management LLC now owns 665 shares of the company’s stock valued at $44,000 after acquiring an additional 440 shares in the last quarter. Institutional investors own 74.45% of the company’s stock.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $84.76, for a total value of $4,238,000.00. Following the sale, the chief executive officer now directly owns 844,901 shares in the company, valued at $71,613,808.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by company insiders.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 7th. The company reported $1.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. The company had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.46 billion. During the same period last year, the firm earned $1.32 earnings per share. Philip Morris International’s quarterly revenue was down 9.6% on a year-over-year basis. Equities research analysts predict that Philip Morris International Inc. will post 5.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Tuesday, March 26th will be paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Monday, March 25th. Philip Morris International’s dividend payout ratio is presently 89.41%.
Several brokerages have recently issued reports on PM. Piper Jaffray Companies set a $110.00 price objective on Philip Morris International and gave the company a “buy” rating in a research note on Monday, December 3rd. Morgan Stanley reduced their price objective on Philip Morris International from $102.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 8th. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Jefferies Financial Group reiterated a “hold” rating and issued a $80.00 price objective on shares of Philip Morris International in a research note on Sunday, February 10th. Finally, Zacks Investment Research upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Thursday, February 14th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $91.86.
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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.
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