Hancock Holding Co. grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 10.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,089 shares of the company’s stock after purchasing an additional 1,460 shares during the period. Hancock Holding Co.’s holdings in Philip Morris International were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Optimum Investment Advisors bought a new position in shares of Philip Morris International during the 1st quarter valued at approximately $100,000. Front Row Advisors LLC bought a new position in shares of Philip Morris International during the 4th quarter valued at approximately $118,000. Wolverine Asset Management LLC bought a new position in shares of Philip Morris International during the 4th quarter valued at approximately $126,000. Cerebellum GP LLC bought a new position in shares of Philip Morris International during the 4th quarter valued at approximately $128,000. Finally, Clearwater Capital Advisors LLC bought a new position in Philip Morris International in the 1st quarter worth approximately $128,000. Hedge funds and other institutional investors own 72.27% of the company’s stock.
Several research analysts recently commented on PM shares. Zacks Investment Research downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. Goldman Sachs Group downgraded shares of Philip Morris International from a “conviction-buy” rating to a “buy” rating in a report on Friday, April 20th. Bank of America downgraded shares of Philip Morris International from a “neutral” rating to an “underperform” rating and cut their price target for the company from $113.00 to $88.00 in a report on Friday, April 20th. Deutsche Bank started coverage on shares of Philip Morris International in a research report on Tuesday, April 10th. They set a “buy” rating and a $120.00 price objective on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of Philip Morris International from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, April 20th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Philip Morris International has a consensus rating of “Hold” and a consensus target price of $117.67.
In other news, insider Miroslaw Zielinski bought 6,000 shares of Philip Morris International stock in a transaction dated Friday, April 27th. The shares were acquired at an average price of $81.56 per share, with a total value of $489,360.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer Li bought 40,000 shares of Philip Morris International stock in a transaction dated Monday, May 14th. The stock was purchased at an average cost of $81.30 per share, for a total transaction of $3,252,000.00. Following the purchase, the director now owns 47,323 shares of the company’s stock, valued at approximately $3,847,359.90. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 49,000 shares of company stock worth $3,989,640. 0.22% of the stock is owned by insiders.
Shares of PM stock opened at $80.74 on Friday. Philip Morris International Inc. has a 12 month low of $76.21 and a 12 month high of $121.69. The company has a market cap of $126.94 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 1.63 and a beta of 0.88. The company has a debt-to-equity ratio of -2.82, a current ratio of 1.16 and a quick ratio of 0.68.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, April 19th. The company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.12. Philip Morris International had a net margin of 7.50% and a negative return on equity of 72.40%. The business had revenue of $6.90 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. research analysts predict that Philip Morris International Inc. will post 5.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 11th. Investors of record on Friday, June 22nd will be paid a dividend of $1.14 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend is Thursday, June 21st. This represents a $4.56 dividend on an annualized basis and a yield of 5.65%. Philip Morris International’s dividend payout ratio is presently 92.49%.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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