Carroll Financial Associates Inc. Lowers Stake in Philip Morris International Inc. (NYSE:PM)

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Carroll Financial Associates Inc. reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 28,106 shares of the company’s stock after selling 309 shares during the period. Carroll Financial Associates Inc.’s holdings in Philip Morris International were worth $2,207,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Capital Wealth Management LLC purchased a new position in Philip Morris International during the 1st quarter worth $234,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Philip Morris International in the 4th quarter worth $5,362,000. Keystone Financial Group lifted its stake in shares of Philip Morris International by 1.0% in the 1st quarter. Keystone Financial Group now owns 16,521 shares of the company’s stock worth $1,460,000 after acquiring an additional 165 shares during the period. Avalon Advisors LLC lifted its stake in shares of Philip Morris International by 5,917.2% in the 4th quarter. Avalon Advisors LLC now owns 1,250,502 shares of the company’s stock worth $83,484,000 after acquiring an additional 1,229,720 shares during the period. Finally, Aviance Capital Management LLC acquired a new stake in shares of Philip Morris International in the 4th quarter worth $2,333,000. 73.46% of the stock is currently owned by institutional investors.

Shares of NYSE PM traded down $0.20 during midday trading on Tuesday, hitting $86.75. The company had a trading volume of 4,367,876 shares, compared to its average volume of 5,465,224. Philip Morris International Inc. has a twelve month low of $64.67 and a twelve month high of $92.74. The firm has a 50-day simple moving average of $79.98. The firm has a market cap of $135.37 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.20 and a beta of 0.96.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.13. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter last year, the business earned $1.41 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, research analysts anticipate that Philip Morris International Inc. will post 5.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 21st were paid a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend was Thursday, June 20th. Philip Morris International’s dividend payout ratio (DPR) is 89.41%.

In other Philip Morris International news, VP Michael R. Kunst bought 500 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was purchased at an average cost of $80.74 per share, for a total transaction of $40,370.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Louis C. Camilleri sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $83.54, for a total transaction of $5,847,800.00. The disclosure for this sale can be found here. Insiders purchased 4,000 shares of company stock valued at $331,705 in the last quarter. Company insiders own 0.21% of the company’s stock.

PM has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Bank of America set a $120.00 target price on shares of Walmart and gave the stock a “buy” rating in a research note on Friday, May 17th. ValuEngine cut shares of United Rentals from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 18th. Morgan Stanley set a $207.00 target price on shares of Alibaba Group and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Philip Morris International presently has a consensus rating of “Buy” and a consensus price target of $93.69.

Philip Morris International Company Profile

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.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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