First Bank & Trust reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 20.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 24,170 shares of the company’s stock after selling 6,207 shares during the period. Philip Morris International makes up approximately 1.4% of First Bank & Trust’s holdings, making the stock its 17th biggest holding. First Bank & Trust’s holdings in Philip Morris International were worth $1,835,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Philip Morris International by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 125,492,442 shares of the company’s stock worth $9,854,922,000 after buying an additional 1,295,745 shares during the period. BlackRock Inc. raised its holdings in Philip Morris International by 5.1% during the 2nd quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock worth $7,918,335,000 after buying an additional 4,879,296 shares during the period. Morgan Stanley raised its holdings in Philip Morris International by 16.9% during the 2nd quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock worth $2,708,164,000 after buying an additional 4,998,070 shares during the period. Invesco Ltd. raised its holdings in Philip Morris International by 41.5% during the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock worth $2,362,224,000 after buying an additional 8,824,567 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Philip Morris International by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,736,970 shares of the company’s stock worth $1,314,354,000 after buying an additional 358,545 shares during the period. Hedge funds and other institutional investors own 74.17% of the company’s stock.
In related news, insider Mario Masseroli sold 1,100 shares of the firm’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by company insiders.
Shares of NYSE PM traded up $0.70 during midday trading on Thursday, reaching $79.80. The company’s stock had a trading volume of 271,865 shares, compared to its average volume of 7,173,819. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $92.74. The stock has a market capitalization of $121.40 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.91 and a beta of 1.00. The stock has a 50 day simple moving average of $74.58 and a 200-day simple moving average of $80.82.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 17th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.07. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The company had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the company earned $1.44 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts predict that Philip Morris International Inc. will post 5.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Wednesday, September 25th were paid a $1.17 dividend. The ex-dividend date was Tuesday, September 24th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 annualized dividend and a dividend yield of 5.86%. Philip Morris International’s dividend payout ratio (DPR) is currently 91.76%.
A number of analysts have recently issued reports on PM shares. ValuEngine downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Citigroup lowered their price objective on shares of Philip Morris International from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Monday. Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a report on Monday, August 26th. Cowen reiterated a “hold” rating on shares of Philip Morris International in a report on Thursday, September 12th. Finally, Credit Suisse Group set a $80.00 price objective on shares of Philip Morris International and gave the company a “sell” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $92.67.
Philip Morris International 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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