Suffolk Capital Management LLC Takes Position in Philip Morris International Inc (PM)

Suffolk Capital Management LLC acquired a new position in shares of Philip Morris International Inc (NYSE:PM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 110,076 shares of the company’s stock, valued at approximately $12,928,000. Philip Morris International comprises approximately 1.7% of Suffolk Capital Management LLC’s holdings, making the stock its 20th biggest position.

Other hedge funds have also made changes to their positions in the company. State Street Corp raised its position in Philip Morris International by 1.8% in the first quarter. State Street Corp now owns 59,926,871 shares of the company’s stock valued at $6,766,079,000 after purchasing an additional 1,058,408 shares during the last quarter. Legal & General Group Plc raised its position in Philip Morris International by 3.9% in the first quarter. Legal & General Group Plc now owns 7,211,588 shares of the company’s stock valued at $814,358,000 after purchasing an additional 268,119 shares during the last quarter. Swiss National Bank raised its position in Philip Morris International by 26.2% in the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after purchasing an additional 1,189,800 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Philip Morris International by 4.9% in the first quarter. UBS Asset Management Americas Inc. now owns 5,354,506 shares of the company’s stock valued at $604,524,000 after purchasing an additional 251,734 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Philip Morris International by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 5,064,097 shares of the company’s stock valued at $571,737,000 after purchasing an additional 218,999 shares during the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

Shares of Philip Morris International Inc (NYSE:PM) opened at 111.27 on Monday. The firm has a market cap of $172.82 billion, a PE ratio of 24.66 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. The stock has a 50 day moving average price of $114.80 and a 200 day moving average price of $115.71.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.09). The business 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%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 EPS. Equities analysts expect that Philip Morris International Inc will post $4.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be given a dividend of $1.07 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date is Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a yield of 3.85%. Philip Morris International’s dividend payout ratio is presently 94.90%.

COPYRIGHT VIOLATION WARNING: “Suffolk Capital Management LLC Takes Position in Philip Morris International Inc (PM)” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/09/suffolk-capital-management-llc-takes-position-in-philip-morris-international-inc-pm.html.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

PM has been the subject of several research reports. TheStreet upgraded Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $133.00 target price (down from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Zacks Investment Research upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Tuesday, July 11th. BidaskClub downgraded Philip Morris In

Other hedge funds have also made changes to their positions in the company. State Street Corp raised its position in Philip Morris International by 1.8% in the first quarter. State Street Corp now owns 59,926,871 shares of the company’s stock valued at $6,766,079,000 after purchasing an additional 1,058,408 shares during the last quarter. Legal & General Group Plc raised its position in Philip Morris International by 3.9% in the first quarter. Legal & General Group Plc now owns 7,211,588 shares of the company’s stock valued at $814,358,000 after purchasing an additional 268,119 shares during the last quarter. Swiss National Bank raised its position in Philip Morris International by 26.2% in the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after purchasing an additional 1,189,800 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Philip Morris International by 4.9% in the first quarter. UBS Asset Management Americas Inc. now owns 5,354,506 shares of the company’s stock valued at $604,524,000 after purchasing an additional 251,734 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Philip Morris International by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 5,064,097 shares of the company’s stock valued at $571,737,000 after purchasing an additional 218,999 shares during the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

Shares of Philip Morris International Inc (NYSE:PM) opened at 111.27 on Monday. The firm has a market cap of $172.82 billion, a PE ratio of 24.66 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. The stock has a 50 day moving average price of $114.80 and a 200 day moving average price of $115.71.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.09). The business 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%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 EPS. Equities analysts expect that Philip Morris International Inc will post $4.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be given a dividend of $1.07 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date is Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a yield of 3.85%. Philip Morris International’s dividend payout ratio is presently 94.90%.

COPYRIGHT VIOLATION WARNING: “Suffolk Capital Management LLC Takes Position in Philip Morris International Inc (PM)” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/09/suffolk-capital-management-llc-takes-position-in-philip-morris-international-inc-pm.html.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

PM has been the subject of several research reports. TheStreet upgraded Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $133.00 target price (down from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Zacks Investment Research upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Tuesday, July 11th. BidaskClub downgraded Philip Morris International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Vetr upgraded Philip Morris International from a “strong sell” rating to a “buy” rating and set a $128.00 target price for the company in a research report on Monday, June 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Philip Morris International currently has a consensus rating of “Buy” and an average price target of $123.92.

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)

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