Peoples Financial Services CORP. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 7.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,758 shares of the company’s stock after selling 690 shares during the period. Peoples Financial Services CORP.’s holdings in Philip Morris International were worth $688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Wealth Management LLC acquired a new position in Philip Morris International during the first quarter valued at $234,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of Philip Morris International in the fourth quarter worth about $5,362,000. Keystone Financial Group raised its position in shares of Philip Morris International by 1.0% in the first 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 raised its position in shares of Philip Morris International by 5,917.2% in the fourth 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 position in shares of Philip Morris International in the fourth quarter worth about $2,333,000. Institutional investors own 73.46% of the company’s stock.
In related news, Director Louis C. Camilleri sold 70,000 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael R. Kunst acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average cost of $80.74 per share, with a total value of $40,370.00. The disclosure for this purchase can be found here. Insiders have bought 4,000 shares of company stock valued at $331,705 in the last three months. Corporate insiders own 0.21% of the company’s stock.
A number of brokerages have weighed in on PM. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Wells Fargo & Co set a $15.00 price objective on shares of United Insurance and gave the stock a “hold” rating in a research report on Friday. Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the stock a “buy” rating in a research report on Friday, July 12th. Barclays set a $89.00 price objective on shares of Franco Nevada and gave the stock a “hold” rating in a research report on Friday. Finally, Citigroup upped their price objective on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $93.69.
Shares of PM stock traded down $0.20 on Tuesday, reaching $86.75. 4,367,876 shares of the company were exchanged, compared to its average volume of 5,465,224. The company has a market cap of $135.37 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 2.20 and a beta of 0.96. The firm has a 50-day moving average of $79.98. Philip Morris International Inc. has a 1 year low of $64.67 and a 1 year high of $92.74.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. On average, equities research analysts anticipate that Philip Morris International Inc. will post 5.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st were paid a dividend of $1.14 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.26%. Philip Morris International’s dividend payout ratio is currently 89.41%.
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.
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