First Manhattan Co. Cuts Holdings in Philip Morris International Inc (PM)

First Manhattan Co. lowered its stake in Philip Morris International Inc (NYSE:PM) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,595,660 shares of the company’s stock after selling 100,541 shares during the quarter. Philip Morris International comprises approximately 1.6% of First Manhattan Co.’s investment portfolio, making the stock its 13th biggest holding. First Manhattan Co. owned 0.10% of Philip Morris International worth $187,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PM. Acropolis Investment Management LLC raised its holdings in shares of Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares during the last quarter. Baystate Wealth Management LLC raised its holdings in shares of Philip Morris International by 0.3% in the second quarter. Baystate Wealth Management LLC now owns 2,053 shares of the company’s stock valued at $244,000 after purchasing an additional 7 shares during the last quarter. Hudock Capital Group LLC raised its holdings in shares of Philip Morris International by 0.3% in the first quarter. Hudock Capital Group LLC now owns 3,136 shares of the company’s stock valued at $354,000 after purchasing an additional 10 shares during the last quarter. Cape ANN Savings Bank raised its holdings in shares of Philip Morris International by 0.7% in the second quarter. Cape ANN Savings Bank now owns 2,142 shares of the company’s stock valued at $252,000 after purchasing an additional 15 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its holdings in shares of Philip Morris International by 0.6% in the second quarter. Cornerstone Advisors Inc. now owns 3,053 shares of the company’s stock valued at $359,000 after purchasing an additional 18 shares during the last quarter. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. Berenberg Bank set a $96.00 price objective on shares of Philip Morris International and gave the company a “hold” rating in a report on Saturday, June 24th. Wells Fargo & Company reiterated an “outperform” rating and issued a $140.00 price objective on shares of Philip Morris International in a report on Tuesday. BidaskClub upgraded shares of Philip Morris International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. SBG Securities upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and lifted their price objective for the company from $118.00 to $119.00 in a report on Friday, August 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $120.00 price objective on shares of Philip Morris International in a report on Thursday, September 28th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $126.23.

COPYRIGHT VIOLATION NOTICE: “First Manhattan Co. Cuts Holdings in Philip Morris International Inc (PM)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/11/first-manhattan-co-cuts-holdings-in-philip-morris-international-inc-pm.html.

Philip Morris International Inc (PM) opened at 115.17 on Wednesday. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The firm has a market capitalization of $178.88 billion, a P/E ratio of 25.52 and a beta of 0.93. The company’s 50-day moving average is $114.71 and its 200-day moving average is $115.78.

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 company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 earnings per share. Equities analysts forecast that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized divide

A number of other institutional investors and hedge funds also recently made changes to their positions in PM. Acropolis Investment Management LLC raised its holdings in shares of Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares during the last quarter. Baystate Wealth Management LLC raised its holdings in shares of Philip Morris International by 0.3% in the second quarter. Baystate Wealth Management LLC now owns 2,053 shares of the company’s stock valued at $244,000 after purchasing an additional 7 shares during the last quarter. Hudock Capital Group LLC raised its holdings in shares of Philip Morris International by 0.3% in the first quarter. Hudock Capital Group LLC now owns 3,136 shares of the company’s stock valued at $354,000 after purchasing an additional 10 shares during the last quarter. Cape ANN Savings Bank raised its holdings in shares of Philip Morris International by 0.7% in the second quarter. Cape ANN Savings Bank now owns 2,142 shares of the company’s stock valued at $252,000 after purchasing an additional 15 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its holdings in shares of Philip Morris International by 0.6% in the second quarter. Cornerstone Advisors Inc. now owns 3,053 shares of the company’s stock valued at $359,000 after purchasing an additional 18 shares during the last quarter. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. Berenberg Bank set a $96.00 price objective on shares of Philip Morris International and gave the company a “hold” rating in a report on Saturday, June 24th. Wells Fargo & Company reiterated an “outperform” rating and issued a $140.00 price objective on shares of Philip Morris International in a report on Tuesday. BidaskClub upgraded shares of Philip Morris International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. SBG Securities upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and lifted their price objective for the company from $118.00 to $119.00 in a report on Friday, August 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $120.00 price objective on shares of Philip Morris International in a report on Thursday, September 28th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $126.23.

COPYRIGHT VIOLATION NOTICE: “First Manhattan Co. Cuts Holdings in Philip Morris International Inc (PM)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/11/first-manhattan-co-cuts-holdings-in-philip-morris-international-inc-pm.html.

Philip Morris International Inc (PM) opened at 115.17 on Wednesday. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The firm has a market capitalization of $178.88 billion, a P/E ratio of 25.52 and a beta of 0.93. The company’s 50-day moving average is $114.71 and its 200-day moving average is $115.78.

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 company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 earnings per share. Equities analysts forecast that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized dividend and a dividend yield of 3.72%. Philip Morris International’s dividend payout ratio (DPR) is currently 94.90%.

In other news, insider Drago Azinovic sold 14,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

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.

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

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