Verity Asset Management Inc. Invests $369,000 in Philip Morris International Inc (PM) Stock

Verity Asset Management Inc. bought a new position in Philip Morris International Inc (NYSE:PM) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,272 shares of the company’s stock, valued at approximately $369,000.

A number of other hedge funds also recently modified their holdings of the business. Swiss National Bank grew its stake in Philip Morris International by 26.2% in the 1st quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock worth $646,548,000 after acquiring an additional 1,189,800 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Philip Morris International by 4.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 5,354,506 shares of the company’s stock worth $604,524,000 after acquiring an additional 251,734 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Philip Morris International by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,357,568 shares of the company’s stock worth $491,969,000 after acquiring an additional 18,903 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Philip Morris International by 10.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 4,013,000 shares of the company’s stock worth $453,068,000 after acquiring an additional 380,659 shares in the last quarter. Finally, C WorldWide Group Holding A S grew its stake in Philip Morris International by 70.9% in the 1st quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock worth $341,770,000 after acquiring an additional 1,255,776 shares in the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.

WARNING: “Verity Asset Management Inc. Invests $369,000 in Philip Morris International Inc (PM) Stock” was originally published by BBNS and is owned by of BBNS. If you are viewing this article on another domain, it was illegally copied and republished in violation of U.S. and international trademark and copyright law. The legal version of this article can be viewed at https://baseballnewssource.com/markets/verity-asset-management-inc-acquires-new-holdings-in-philip-morris-international-inc-pm/1604817.html.

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 transaction of $1,624,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by insiders.

A number of equities analysts have commented on the stock. Jefferies Group LLC restated a “hold” rating and issued a $121.00 target price on shares of Philip Morris International in a research note on Tuesday, June 20th. Piper Jaffray Companies set a $134.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Saturday, August 19th. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and upped their price target for the stock from $118.00 to $119.00 in a research report on Friday, August 11th. BidaskClub raised shares of Philip Morris International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $135.00 price target on shares of Philip Morris International in a research report on Tuesday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $122.79.

Shares of Philip Morris International Inc (PM) opened at 112.51 on Friday. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55. The stock has a market cap of $174.75 billion, a PE ratio of 24.93 and a beta of 0.94. The company’s 50-day moving average is $116.11 and its 200-day moving average is $115.73.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.09). The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 EPS. Equities analysts anticipate that Philip Morris International Inc will post $4.83 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Tuesday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s payout ratio is currently 92.24%.

About Philip Morris International

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.

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

Receive News & Ratings for Philip Morris International Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International Inc and related companies with our FREE daily email newsletter.

 


Latest News

American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22


Leave a Reply

 
© 2006-2017 BBNS.