Cullen Capital Management LLC Has $58.62 Million Holdings in Philip Morris International Inc. (PM)

Cullen Capital Management LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 20.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 499,129 shares of the company’s stock after selling 125,821 shares during the quarter. Philip Morris International makes up approximately 2.1% of Cullen Capital Management LLC’s holdings, making the stock its 28th largest holding. Cullen Capital Management LLC’s holdings in Philip Morris International were worth $58,623,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Acropolis Investment Management LLC increased its holdings in Philip Morris International by 0.5% during the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the last quarter. Novare Capital Management LLC increased its holdings in shares of Philip Morris International by 0.3% in the 2nd quarter. Novare Capital Management LLC now owns 1,842 shares of the company’s stock valued at $216,000 after acquiring an additional 5 shares during the last quarter. Hudock Capital Group LLC increased its holdings in shares of Philip Morris International by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 3,144 shares of the company’s stock valued at $369,000 after acquiring an additional 8 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Philip Morris International by 0.3% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 3,368 shares of the company’s stock valued at $396,000 after acquiring an additional 10 shares during the last quarter. Finally, Vantage Investment Advisors LLC increased its holdings in shares of Philip Morris International by 1.0% in the 2nd quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock valued at $121,000 after acquiring an additional 10 shares during the last quarter. Institutional investors own 72.63% of the company’s stock.

Philip Morris International Inc. (NYSE PM) traded up $1.26 during trading hours on Wednesday, reaching $107.30. The company had a trading volume of 4,428,300 shares, compared to its average volume of 4,127,201. Philip Morris International Inc. has a twelve month low of $88.90 and a twelve month high of $123.55. The firm has a market cap of $164,701.64, a price-to-earnings ratio of 23.62, a P/E/G ratio of 2.14 and a beta of 0.90. The company has a quick ratio of 0.68, a current ratio of 1.13 and a debt-to-equity ratio of -2.91.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. sell-side analysts forecast that Philip Morris International Inc. will post 4.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 21st will be given a dividend of $1.07 per share. The ex-dividend date is Wednesday, December 20th. This represents a $4.28 dividend on an annualized basis and a yield of 3.99%. Philip Morris International’s dividend payout ratio is currently 94.48%.

In related news, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

PM has been the subject of a number of research analyst reports. Piper Jaffray Companies set a $134.00 price target on Philip Morris International and gave the company a “buy” rating in a report on Saturday, August 19th. Cowen reiterated a “buy” rating and issued a $135.00 price target on shares of Philip Morris International in a report on Tuesday, August 22nd. Jefferies Group reiterated a “hold” rating and issued a $120.00 price target (down from $121.00) on shares of Philip Morris International in a report on Thursday, August 24th. Goldman Sachs Group upgraded Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target for the company in a report on Thursday, September 28th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $140.00 price target on shares of Philip Morris International in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $124.23.

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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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