Flagship Harbor Advisors LLC decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 4.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,231 shares of the company’s stock after selling 798 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Philip Morris International were worth $1,328,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. raised its holdings in shares of Philip Morris International by 90.7% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock valued at $101,000 after acquiring an additional 592 shares during the last quarter. Landaas & Co. WI ADV acquired a new position in shares of Philip Morris International during the second quarter valued at approximately $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Philip Morris International during the second quarter valued at approximately $108,000. BerganKDV Wealth Management LLC acquired a new position in shares of Philip Morris International during the second quarter valued at approximately $123,000. Finally, Westbourne Investment Advisors Inc. acquired a new position in shares of Philip Morris International during the third quarter valued at approximately $148,000. 72.76% of the stock is owned by institutional investors.
PM has been the subject of several recent research reports. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Societe Generale set a $95.00 price target on Philip Morris International and gave the company a “hold” rating in a report on Monday, October 22nd. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Citigroup increased their price target on Philip Morris International from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 19th. Finally, Piper Jaffray Companies set a $99.00 price target on Philip Morris International and gave the company a “buy” rating in a report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $98.08.
Shares of Philip Morris International stock opened at $89.18 on Friday. The company has a market capitalization of $139.10 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 2.05 and a beta of 0.58. Philip Morris International Inc. has a fifty-two week low of $76.21 and a fifty-two week high of $111.25.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.16. The company 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 firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 earnings per share. As a group, analysts anticipate that Philip Morris International Inc. will post 5.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were given a $1.14 dividend. The ex-dividend date was Tuesday, September 25th. This represents a $4.56 annualized dividend and a yield of 5.11%. Philip Morris International’s payout ratio is 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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