Whalerock Point Partners LLC cut its holdings in Philip Morris International Inc. (NYSE:PM) by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,131 shares of the company’s stock after selling 550 shares during the period. Whalerock Point Partners LLC’s holdings in Philip Morris International were worth $209,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Actinver Wealth Management Inc. purchased a new position in shares of Philip Morris International during the fourth quarter worth about $1,490,000. Foster Victor Wealth Advisors LLC purchased a new position in shares of Philip Morris International during the fourth quarter worth about $624,000. Financial Advocates Investment Management grew its holdings in shares of Philip Morris International by 23.0% during the fourth quarter. Financial Advocates Investment Management now owns 7,648 shares of the company’s stock worth $460,000 after buying an additional 1,430 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Philip Morris International by 11.8% during the fourth quarter. Teacher Retirement System of Texas now owns 324,278 shares of the company’s stock worth $21,649,000 after buying an additional 34,153 shares during the last quarter. Finally, Aspire Private Capital LLC purchased a new position in shares of Philip Morris International during the fourth quarter worth about $791,000. Institutional investors own 73.53% of the company’s stock.
Shares of PM opened at $85.77 on Monday. Philip Morris International Inc. has a twelve month low of $64.67 and a twelve month high of $103.55. The company has a market capitalization of $133.04 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, February 7th. The company reported $1.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.46 billion. During the same quarter in the previous year, the company earned $1.32 EPS. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Philip Morris International Inc. will post 5.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Tuesday, March 26th were given a dividend of $1.14 per share. The ex-dividend date was Monday, March 25th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.32%. Philip Morris International’s payout ratio is 89.41%.
In other news, CEO Andre Calantzopoulos sold 50,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the completion of the sale, the chief executive officer now directly owns 844,901 shares in the company, valued at approximately $71,613,808.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.
A number of equities analysts recently issued reports on PM shares. Credit Suisse Group lowered Philip Morris International from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $92.00 to $74.00 in a report on Tuesday, December 18th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $110.00 price objective (down previously from $111.25) on shares of Philip Morris International in a report on Friday, December 28th. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Friday, March 15th. UBS Group raised Philip Morris International from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $101.00 in a report on Wednesday, February 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Philip Morris International in a report on Sunday, February 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $91.43.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
Further Reading: Buy-Side Analysts
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