Pointe Capital Management LLC Acquires New Stake in Philip Morris International Inc (PM)

Pointe Capital Management LLC acquired a new stake in Philip Morris International Inc (NYSE:PM) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,847 shares of the company’s stock, valued at approximately $321,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gradient Investments LLC boosted its position in Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock valued at $111,000 after buying an additional 426 shares during the last quarter. Welch Investments LLC purchased a new position in Philip Morris International during the first quarter valued at $113,000. American Beacon Advisors Inc. purchased a new position in Philip Morris International during the first quarter valued at $114,000. Acropolis Investment Management LLC purchased a new position in Philip Morris International during the first quarter valued at $117,000. Finally, Gemmer Asset Management LLC boosted its position in Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock valued at $126,000 after buying an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 72.30% of the company’s stock.

Philip Morris International Inc (NYSE PM) traded up 0.03% on Thursday, reaching $117.77. The company’s stock had a trading volume of 826,281 shares. The stock’s 50 day moving average price is $117.34 and its 200 day moving average price is $113.49. The firm has a market cap of $182.92 billion, a PE ratio of 26.10 and a beta of 0.93. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data 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 the consensus estimate of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. Philip Morris International’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 earnings per share. Equities research analysts expect that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Pointe Capital Management LLC Acquires New Stake in Philip Morris International Inc (PM)” was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://sportsperspectives.com/2017/08/17/pointe-capital-management-llc-acquires-new-stake-in-philip-morris-international-inc-pm.html.

PM has been the topic of a number of recent analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $121.00 price target on shares of Philip Morris International in a research report on Tuesday, June 20th. Vetr cut Philip Morris International from a “hold” rating to a “sell” rating and set a $108.70 price target on the stock. in a research report on Monday, May 8th. SBG Securities upgraded Philip Morris International from a “sell” rating to a “hold” rating and raised their price target for the stock from $118.00 to $119.00 in a research report on Friday, August 11th. Cowen and Company restated an “outperform” rating and issued a $120.00 price target on shares of Philip Morris International in a research report on Wednesday, April 19th. Finally, BidaskClub upgraded Philip Morris International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Philip Morris International presently has an average rating of “Buy” and an average target price of $121.79.

Philip Morris International Company 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.

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).

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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply