Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. reduced its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 21.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,118 shares of the company’s stock after selling 1,144 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Inter Parfums were worth $542,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Inter Parfums by 55.9% during the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after purchasing an additional 81 shares during the period. Blue Trust Inc. boosted its stake in shares of Inter Parfums by 25.7% during the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $106,000 after buying an additional 167 shares during the period. Principal Securities Inc. boosted its stake in shares of Inter Parfums by 15.1% during the fourth quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock worth $174,000 after buying an additional 174 shares during the period. Truist Financial Corp grew its holdings in shares of Inter Parfums by 1.1% during the fourth quarter. Truist Financial Corp now owns 17,583 shares of the company’s stock worth $2,312,000 after buying an additional 184 shares during the last quarter. Finally, OLD National Bancorp IN increased its position in Inter Parfums by 2.5% in the 4th quarter. OLD National Bancorp IN now owns 10,087 shares of the company’s stock valued at $1,327,000 after acquiring an additional 246 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

Inter Parfums Price Performance

Shares of NASDAQ:IPAR opened at $118.39 on Friday. Inter Parfums, Inc. has a 12 month low of $108.39 and a 12 month high of $148.15. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 25.41 and a beta of 1.18. The business’s 50 day simple moving average is $134.88 and its 200-day simple moving average is $129.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The business had revenue of $361.50 million for the quarter, compared to analyst estimates of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. As a group, equities analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s payout ratio is currently 62.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler upped their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group increased their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. DA Davidson upped their price objective on Inter Parfums from $163.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.80.

Inter Parfums Company Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.