Measured Wealth Private Client Group LLC lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 23.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,181 shares of the company’s stock after selling 1,548 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Philip Morris International were worth $393,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Philip Morris International by 8.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 413,980 shares of the company’s stock valued at $36,592,000 after purchasing an additional 31,350 shares during the period. Alethea Capital Management LLC acquired a new stake in Philip Morris International during the 1st quarter worth about $2,500,000. Sumitomo Mitsui Asset Management Company LTD grew its position in Philip Morris International by 10.5% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 136,189 shares of the company’s stock worth $12,037,000 after purchasing an additional 12,896 shares during the period. Keystone Financial Group grew its position in shares of Philip Morris International by 1.0% during the 1st quarter. Keystone Financial Group now owns 16,521 shares of the company’s stock valued at $1,460,000 after acquiring an additional 165 shares during the period. Finally, Asahi Life Asset Management CO. LTD. grew its position in shares of Philip Morris International by 322.7% during the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 10,440 shares of the company’s stock valued at $923,000 after acquiring an additional 7,970 shares during the period. Institutional investors and hedge funds own 74.11% of the company’s stock.
Philip Morris International stock traded up $0.50 during midday trading on Friday, reaching $78.25. The company had a trading volume of 1,406,930 shares, compared to its average volume of 8,054,017. The company has a market capitalization of $118.82 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.87 and a beta of 1.00. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $92.74. The firm’s fifty day simple moving average is $74.99 and its 200-day simple moving average is $81.14.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.13. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. Philip Morris International’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $1.41 EPS. On average, research analysts forecast that Philip Morris International Inc. will post 5.2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th will be paid a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a yield of 5.98%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Tuesday, September 24th. Philip Morris International’s dividend payout ratio (DPR) is 91.76%.
In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.
PM has been the topic of a number of analyst reports. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. set a $86.00 target price on Philip Morris International and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Morgan Stanley dropped their target price on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $82.00 to $100.00 in a research report on Friday, July 19th. Finally, Bank of America upgraded Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $93.92.
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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