Fiduciary Trust Co. cut its position in Philip Morris International Inc (NYSE:PM) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,589 shares of the company’s stock after selling 1,715 shares during the period. Fiduciary Trust Co.’s holdings in Philip Morris International were worth $6,615,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Welch Investments LLC acquired a new position in Philip Morris International during the 1st quarter valued at about $113,000. Gemmer Asset Management LLC boosted its stake in Philip Morris International by 40.6% during the 1st quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock valued at $126,000 after purchasing an additional 322 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Philip Morris International by 75.0% during the 1st quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,750 shares of the company’s stock valued at $198,000 after purchasing an additional 750 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its stake in Philip Morris International by 23.2% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,765 shares of the company’s stock valued at $199,000 after purchasing an additional 332 shares during the last quarter. Finally, Windsor Financial Group LLC acquired a new position in Philip Morris International during the 1st quarter valued at about $200,000. Institutional investors own 72.02% of the company’s stock.
Several equities analysts have commented on the stock. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and boosted their target price for the company from $118.00 to $119.00 in a report on Friday, August 11th. Berenberg Bank set a $96.00 target price on shares of Philip Morris International and gave the company a “hold” rating in a report on Saturday, June 24th. BidaskClub cut shares of Philip Morris International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Bank of America Corporation boosted their target price on shares of Philip Morris International from $120.00 to $123.00 and gave the company a “neutral” rating in a report on Tuesday, May 30th. Finally, Jefferies Group LLC boosted their target price on shares of Philip Morris International from $111.00 to $120.00 and gave the company a “hold” rating in a report on Monday, May 22nd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $122.79.
Philip Morris International Inc (PM) traded down 0.81% during trading on Friday, reaching $115.79. 5,992,435 shares of the company were exchanged. The stock has a market capitalization of $179.84 billion, a P/E ratio of 25.66 and a beta of 0.94. The company’s 50-day moving average price is $116.22 and its 200-day moving average price is $115.56. Philip Morris International Inc has a 1-year low of $86.78 and a 1-year high of $123.55.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.09). Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. During the same period in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts forecast 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 paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.70%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s dividend payout ratio is currently 92.24%.
In other news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total transaction of $1,624,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.
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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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