Delta Asset Management LLC TN trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 7.8% during the third quarter, HoldingsChannel reports. The firm owned 12,987 shares of the company’s stock after selling 1,094 shares during the quarter. Delta Asset Management LLC TN’s holdings in Philip Morris International were worth $1,059,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PM. Principal Financial Group Inc. boosted its position in Philip Morris International by 1.7% during the first quarter. Principal Financial Group Inc. now owns 2,849,402 shares of the company’s stock worth $283,231,000 after purchasing an additional 47,965 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Philip Morris International by 8.4% in the first quarter. Summit Trail Advisors LLC now owns 15,641 shares of the company’s stock valued at $810,000 after acquiring an additional 1,218 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Philip Morris International by 2.0% in the second quarter. Private Trust Co. NA now owns 40,588 shares of the company’s stock valued at $3,277,000 after acquiring an additional 809 shares in the last quarter. Clarus Wealth Advisors purchased a new stake in shares of Philip Morris International in the second quarter valued at $192,000. Finally, First Financial Bank Trust Division lifted its position in shares of Philip Morris International by 6.8% in the second quarter. First Financial Bank Trust Division now owns 11,093 shares of the company’s stock valued at $896,000 after acquiring an additional 711 shares in the last quarter. Institutional investors own 72.93% of the company’s stock.
Several brokerages have recently issued reports on PM. Societe Generale set a $95.00 price objective on Philip Morris International and gave the company a “hold” rating in a research report on Monday. Citigroup upped their price objective on Philip Morris International from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Thursday. Sanford C. Bernstein began coverage on Philip Morris International in a research report on Tuesday, October 16th. They issued an “outperform” rating and a $97.00 price objective on the stock. Finally, Piper Jaffray Companies set a $99.00 price objective on Philip Morris International and gave the company a “buy” rating in a research report on Wednesday, October 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Philip Morris International has a consensus rating of “Hold” and an average price target of $98.08.
Philip Morris International stock traded down $1.32 during trading on Monday, hitting $87.51. The company’s stock had a trading volume of 405,700 shares, compared to its average volume of 6,060,968. The firm has a market capitalization of $138.09 billion, a P/E ratio of 17.75, a PEG ratio of 2.06 and a beta of 0.79. Philip Morris International Inc. has a 1-year low of $76.21 and a 1-year high of $111.25. The company has a current ratio of 1.19, a quick ratio of 0.64 and a debt-to-equity ratio of -2.83.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.16. The firm had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.16 billion. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 earnings per share. As a group, equities analysts predict that Philip Morris International Inc. will post 5 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were paid a $1.14 dividend. The ex-dividend date was Tuesday, September 25th. This represents a $4.56 annualized dividend and a yield of 5.21%. Philip Morris International’s payout ratio is currently 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.
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.