Burgundy Asset Management Ltd. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,112,098 shares of the company’s stock after selling 306,379 shares during the period. Philip Morris International comprises approximately 3.5% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 6th largest holding. Burgundy Asset Management Ltd. owned approximately 0.20% of Philip Morris International worth $365,516,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Guidant Wealth Advisors raised its stake in Philip Morris International by 25.5% in the 2nd quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock valued at $110,000 after purchasing an additional 191 shares during the last quarter. Vantage Investment Advisors LLC raised its stake in Philip Morris International by 1.0% in the 2nd quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock valued at $121,000 after purchasing an additional 10 shares during the last quarter. Acropolis Investment Management LLC raised its stake in Philip Morris International by 0.5% in the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Philip Morris International by 13.9% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,230 shares of the company’s stock valued at $144,000 after purchasing an additional 150 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in Philip Morris International in the 2nd quarter valued at $145,000. Hedge funds and other institutional investors own 72.63% of the company’s stock.
In other news, Chairman Louis C. Camilleri sold 108,979 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.
A number of analysts have issued reports on PM shares. Piper Jaffray Companies set a $130.00 target price on Philip Morris International and gave the stock a “buy” rating in a research note on Thursday, November 16th. Jefferies Group cut their target price on Philip Morris International from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday, October 12th. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Bank of America cut their target price on Philip Morris International from $124.00 to $121.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $124.23.
Philip Morris International Inc. (NYSE:PM) opened at $109.68 on Friday. The firm has a market capitalization of $170,355.31, a price-to-earnings ratio of 24.43, a PEG ratio of 2.22 and a beta of 0.90. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. Philip Morris International Inc. has a twelve month low of $88.90 and a twelve month high of $123.55.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). The business had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. research analysts predict that Philip Morris International Inc. will post 4.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Wednesday, December 20th. Philip Morris International’s dividend payout ratio is presently 94.48%.
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Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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