Comerica Bank reduced its stake in Philip Morris International Inc. (NYSE:PM) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 490,919 shares of the company’s stock after selling 4,532 shares during the period. Comerica Bank’s holdings in Philip Morris International were worth $51,399,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Green Square Capital LLC bought a new stake in shares of Philip Morris International in the 1st quarter worth about $240,000. Kimelman & Baird LLC increased its holdings in shares of Philip Morris International by 6.8% in the 1st quarter. Kimelman & Baird LLC now owns 2,515 shares of the company’s stock worth $284,000 after buying an additional 160 shares during the last quarter. Indiana Trust & Investment Management CO bought a new stake in shares of Philip Morris International in the 2nd quarter worth about $206,000. Stillwater Investment Management LLC increased its holdings in shares of Philip Morris International by 0.8% in the 2nd quarter. Stillwater Investment Management LLC now owns 2,956 shares of the company’s stock worth $347,000 after buying an additional 23 shares during the last quarter. Finally, Catawba Capital Management VA increased its holdings in shares of Philip Morris International by 1.0% in the 2nd quarter. Catawba Capital Management VA now owns 14,027 shares of the company’s stock worth $1,647,000 after buying an additional 135 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.
In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total value of $11,811,144.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by insiders.
Several brokerages recently commented on PM. Zacks Investment Research downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Piper Jaffray Companies reiterated a “buy” rating and set a $130.00 price target on shares of Philip Morris International in a report on Sunday, October 22nd. Goldman Sachs Group upgraded shares of Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target on the stock in a report on Thursday, September 28th. Wells Fargo & Co reiterated an “outperform” rating and set a $140.00 price target on shares of Philip Morris International in a report on Tuesday, October 10th. Finally, Jefferies Group reiterated a “hold” rating and set a $120.00 price target on shares of Philip Morris International in a report on Thursday, September 28th. One equities research 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 stock presently has a consensus rating of “Hold” and a consensus price target of $124.23.
Shares of Philip Morris International Inc. (NYSE PM) opened at $105.63 on Thursday. The stock has a market cap of $164,060.00, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.88 and a beta of 0.89. The company has a debt-to-equity ratio of -2.91, a current ratio of 1.13 and a quick ratio of 0.68. Philip Morris International Inc. has a 52-week low of $89.97 and a 52-week high of $123.55.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.11). The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. Philip Morris International’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. equities research analysts anticipate that Philip Morris International Inc. will post 4.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st will be given a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $4.28 annualized dividend and a yield of 4.05%. Philip Morris International’s dividend payout ratio (DPR) is 94.48%.
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About Philip Morris International
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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